The proposal will increase minimum protection for bank deposits to € 100,000 within one year, the payout period will be reduced to three days, and co-insurance where the depositor bears part of the losses is abandoned.
The Commission proposes to increase minimum protection for bank deposits to € 100,000 within one year. Individual Member States can choose to add to these minimum levels. The payout period in the event of bank failure will be reduced from three months to three days. Finally, co-insurance where the depositor bears part of the losses is abandoned. Member States must ensure that the deposit is reimbursed up to the coverage level.
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