Banks wrote:You guys aren't done with this yet?
This shit won't be over for some time yet. Thanks Britain.
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Gold Core wrote:It is the ‘opinion of the European Central Bank’ that the deposit protection scheme is no longer necessary:
‘covered deposits and claims under investor compensation schemes should be replaced by limited discretionary exemptions to be granted by the competent authority in order to retain a degree of flexibility.’
To translate the legalese jargon of the ECB bureaucrats this could mean that the current €100,000 (£85,000) deposit level currently protected in the event of a bail-in may soon be no more.
But worry not fellow savers as the ECB is fully aware of the uproar this may cause so they have been kind enough to propose that:
“…during a transitional period, depositors should have access to an appropriate amount of their covered deposits to cover the cost of living within five working days of a request.”
Generous_J wrote:This paper has the highest circulation of any paper in Britain. Stay classy.
https://www.thesun.co.uk/news/4940971/i ... d-grow-up/
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