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Increased Deposit Insurance

July 2011 - Finance. Legal Developments by Delphi.

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The deposit insurance is a state-provided guarantee of deposits in respect of all types of accounts at banks and securities companies. The deposit insurance was as of 31 December 2010 increased to EUR 100,000 per customer from the previous level of EUR 50,000.

The increase was a consequence of the EU Directive (2009/14/EC), amending Directive (94/19/EC), on deposit-guarantee schemes as regards the coverage level and the payout delay. The purpose of the deposit insurance is to provide security for the public’s deposits and to contribute to the stability of the financial system.

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