The Fund adapts to the new guidelines issued by the European Banking Authority (EBA/GL/2021/17) regarding the 'delineation and reporting of the available financial means of deposit guarantee schemes' (also called AFM, English acronym for Available Financial Means).
The Fund adapts to the new guidelines issued by the European Banking Authority (EBA/GL/2021/17) regarding 'delineation and reporting of the available financial means of deposit guarantee schemes' (denominati anche AFM, acronimo inglese di Available Financial Means).
In determining the achievement of the target level of its ex-ante financial endowment, the Fund operates in compliance with the aforementioned guidelines and includes exclusively Qualified Available Financial Means (QAFM), i.e. the only financial resources coming, directly or indirectly, from the contributions of its Consortium members.
In order to allow correct information to the EBA, the Fund communicates to the Bank of Italy, within the first quarter of each financial year, and with reference to the date of 31 December of the previous year:
- the amount of covered deposits and the total amount of AFMs, distinguishing between 'QAFMs' and 'other AFMs';
- the outstanding liabilities incurred for the purposes of a possible intervention or investment by the Fund, net of operational liabilities;
- the alternative financing means that the Fund has in place to provide additional liquidity, where necessary;
- any outstanding loans from the Fund to other DGSs in line with Article 12 of the DGS Directive;
- the method chosen for assigning any future recoveries against the disbursements incurred.