ComplianceOnline

Euopean Commission Deposit Guarantee Scheme

  • By: European Commission
  • Date: October 28, 2011
Abstract:

In 1994 the European Commission issued a Directive on Deposit Guarantee Schemes that aimed at protecting bank account holders in case of banks failing. After the 2008 financial crisis, the EU member states decided to increase the level of deposit protection and new Deposit Guarantee Scheme requirements were implemented and became effective in 2010.

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