The Council's general approach envisages raising the deposit guarantee level to EUR 50 000 from 30 June 2009 and harmonising the level at EUR 100 000 from 31 December 2011.
The Council's general approach envisages raising the deposit guarantee level to EUR 50 000 from 30 June 2009 and harmonising the level at EUR 100 000 from 31 December 2011. That harmonisation should make it possible to avoid the distortion of competition among banks which appeared during the financial crisis.
It also envisages a period of five working days to establish that a credit institution has failed to repay deposits which are due and payable, and of 20 working days, subject to extension by 10 working days, to make the repayment.
Overall, the payout period could not exceed 35 working days, compared with 10 months at present.
The European Parliament's vote is expected during the week of 15 December.
General Approach
Further ECOFIN results here.
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article