On September 25, 2015, ESMA published its Opinion on the application of the International Financial Reporting Standards requirements for the recognition of contributions to DGSs in IFRS accounts. The opinion relates to the accounting of ex-ante non-refundable cash contributions to DGSs for which the obligating event takes place at a single point in time. The Opinion states that a contribution must be recognized as an expense in full once a non-refundable cash contribution to a DGS is identified. ESMA will expect national regulators to take remedial measures if any material mis-statements are identified in the requirements.

The Opinion is available at: http://www.esma.europa.eu/system/files/2015- 1462_esma_opinion_on_accounting_for_deposit_guarantee_scheme.pdf