Brussels acts on deposit guarantees

Article reports that deposit guarantee schemes in European Union countries will have to pay out customers’ money within three days if a bank runs into problems, under legislation proposed by the European Commission on the 15 October 2008.

IHT, 6.10.08: Factbox: Bank deposit guarantee schemes in Europe http://www.nytimes.com/2008/10/06/business/worldbusiness/06iht-6saversbox.16718540.html

European Commission: DG Internal Market and Services: Banks: Banking Deposit Guarantee Schemes http://ec.europa.eu/internal_market/bank/guarantee/index_en.htm

European Commission: Press Release: IP/08/1508: Commission sets out proposal to increase minimum protection for bank deposits to €100,000 http://europa.eu/rapid/pressReleasesAction.do?reference=IP/08/1508&format=HTML&aged=0&language=EN&guiLanguage=en

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