ECB’s Opinion on the proposal to recast the Deposit Guarantee Scheme Directive and amend the Investor Compensation Scheme Directive has appeared in the Official Journal. It suggests several changes, including changing the Commission’s proposal that deposit guarantee schemes repay unavailable deposits within seven days of a determination by the authorities to 20 days. It says the Commission should review how the 20-day deadline is working first, as it was only introduced at the end of 2010. (Source: Opinion of ECB on DGS and ICS)