EFDI CROSS-BORDER WORKING GROUP 20TH FEBRUARY 2025, LUXEMBOURG

EFDI Cross-Border Working Group Meeting - 20th February 2025, Luxembourg

The Cross-Border Working Group (CBWG) convened for a key meeting in Luxembourg on 20th February 2025, under the kind hospitality of the Commission de Surveillance du Secteur Financier (CSSF)

The meeting was opened by Mr. Claude Wampach, President of the Management Committee of the FGDL, who shared some introductory remarks with the audience.

The CBWG leaders, Mr. Borja Peletero and Ms. Ivy Jeuken, then outlined the key topics and expected outcomes of the meeting.

This was followed by updates on the work performed over the past months from the co-leaders of the different CBWG subgroups: Operations (Mr. Tormod Skjaerpe and Mr. Arnaud Ribadeu), Finance (Ms. Antoaneta Gala and Mr. Arnaud Schangel) and Legal (Ms Clara Cohen and Ms Ana Lillo).

The second part of the meeting focused on the ongoing review of the EFDI Home DGS – Host DGS Cooperation Multilateral Agreement (H2C Agreement). This agreement, published in 2016, aims to develop a framework for cooperation between DGSs in cross-border payouts and the reimbursement procedures for credit institutions with branches in other EU Member States, under the requirements set forth in Article 14 (5) of Directive 2014/49/EU of 16 April 2014 on deposit guarantee schemes (DGSD) and the EBA Guidelines on cooperation agreements between DGSs.

 EFDI and the CBWG leaders would like to extend their gratitude to the CSSF for hosting this event, particularly to Ms. Isabelle Gil and Ms. Mendaly Ries, and to all the speakers and participants who attended in person and remotely, contributing to the success of the meeting.

Finally, we were pleased to see such a high level of engagement, with a combined attendance of nearly 50 participants, both in person and virtually.

*About the Cross-Border Working Group (CBWG): The Cross Border Working Group (CBWG) brings together professionals from finance, law, operations, and other related sectors to discuss and collaborate on cross-border issues. The group’s main objectives are:

• Data collection;
• Sharing of cross-border experiences, real case practices and issues; 
• Update the H2C Multilateral Cooperation Agreement and Rulebook; and 
• Harmonising bilateral agreements.

The co-leaders of the Cross Border Working Group are Mr. Borja Peletero from FGD Spain and Ms. Ivy Jeuken from De Nederlandsche Bank, The Netherlands.