This being said, unemployment in the euro area remains high, and the necessary balance sheet adjustments in the public and private sectors will continue to weigh on economic activity. The risks surrounding the economic outlook for the euro area continue to be on the downside.
Firstly, the deposit insurance scheme would be housed in a separate legal entity established as a subsidiary of the SARB. This organisational structure would ensure adequate independence for the deposit insurance scheme to pursue its objectives, but with the backing of the SARB for good governance and operational support.