The Deposit Insurance Scheme (DGS) is an important component of the financial safety net, which is currently undergoing a major reform in the European Union with the creation of the Banking Union. For this reason, it is important to present possible target models, their relevance to the objectives pursued by the reform, as well as to analyse the conditions that led to the model that is being implemented. Consideration also needs to be given to the design and its potential to eliminate the dysfunctions of the system, both those taken into account by the EU legislature and the moral hazard inherent in the existence of deposit guarantee.