Danish deposits backed in bank bail-out deal

Article reports that the Danish government guaranteed all bank deposits and some inter-bank lending on the 6 October 2008 in return for a pledge from the country’s banks to establish a rescue fund able to draw on up to Dk35bn). The agreement is designed to reassure both depositors and the banking community following a spate of local bank collapses caused by the global liquidity crisis.

ESO: Background information: Summit on the international financial crisis, Paris, 4 October 2008 http://www.europeansources.info/record/summit-on-the-international-financial-crisis-paris-4-october-2008-fresh-questions-raised-over-europes-response/

ESO: Background information: Danes scramble to rescue lenders http://www.europeansources.info/record/danes-scramble-to-rescue-lenders/

The Copenhagen Post, 6.10.08: Financial rescue package okayed http://www.cphpost.dk/get/109398.html

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