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Europe Daily Bulletin No. 8806

14 October 2004
Contents Publication in full By article 35 / 38
GENERAL NEWS / (eu) eu/court of justice
Individuals compensated under Deposit-Guarantees directive cannot invoke liability of bank monitoring body or Member State

Luxembourg, 13/10/2004 (Agence Europe) - No directive on banking law allows individuals to hold a monitoring body or Member State responsible in case of shortcomings in the bank monitoring, as their compensation is taken care of by the European directive on systems of deposit guarantees, states a Court press release in the "Paul" case.

Peter Paul and other savers opened term deposit accounts with the German bank BVH, which filed for bankruptcy in 1997, whereupon the Bundesaufsichtsamt für...

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