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Image header Agence Europe
Europe Daily Bulletin No. 10163
GENERAL NEWS / (eu) eu/financial services

Member states' savings guarantee schemes may be required to have 1.5% of eligible deposits at hand by 2020

Brussels, 18/06/2010 (Agence Europe) - The collapse of Northern Rock bank is uppermost in everyone's mind and the European Commission believes that EU legislation does not go far enough to protect savings and prevent knock-on effects caused by images of people queuing up en masse to withdraw their savings. On Tuesday 6 July, the European Commission is expected to unveil draft EU legislation changing EU Directive 1994/19/EEC on member states' deposit (savings) guarantee schemes (DGS). This...

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