Austria’s deposit guarantee scheme – resilient in uncertain times

Judith Eidenberger () and Katharina Steiner ()
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Judith Eidenberger: Oesterreichische Nationalbank (OeNB), Financial Markets Analysis and Surveillance Division
Katharina Steiner: Oesterreichische Nationalbank, Foreign Research Division

Financial Stability Report, 2023, issue 46, 39-46

Abstract: Austria’s deposit guarantee scheme (DGS) is multilayered, consisting of three separate schemes. Between 2020 and 2022, Austria’s DGS faced four payout events. Although its setup is rather complex and the payout events occurred in periods of exceptional macroeconomic uncertainty, Austria’s DGS has proved resilient, and depositors have remained confident. We identify three key aspects that helped maintain the credibility of Austria’s DGS: (1) a well-functioning setup and funding structure, (2) the efficient operational management of the payouts and (3) the superiority of the DGS in the creditor hierarchy and sound insolvency procedures.

Keywords: deposit guarantee scheme; payout event; financial stability; systemic risk (search for similar items in EconPapers)
JEL-codes: G21 G28 H12 (search for similar items in EconPapers)
Date: 2023
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