Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-16-Speech-4-217-000"
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"en.20120216.23.4-217-000"2
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"No bank, regardless of the state of its finances, has sufficient liquidity to pay out all deposits or a significant portion of them on the spot. Banks are therefore exposed to the risk of a mass withdrawal of deposits if savers believe that their deposits are not safe. That can have a serious impact on the entire economy. At present, there are almost 40 deposit guarantee schemes in the EU protecting different groups of savers and deposits at different levels of cover, and imposing different financial obligations on banks, which limits the advantages of the single market both for banks and savers. With the aim of facilitating the start-up and operation of credit institutions, it is necessary to eliminate differences in Member State laws concerning the rules on deposit guarantee schemes that apply to these institutions. The directive in question is a fundamental instrument for the creation of a single market in the area of credit institution activities from the perspective of freedom of establishment and freedom to provide financial services, while increasing the stability of the banking system and protection of savers. It should create equal conditions for credit institutions, enable savers easily to understand the details of the deposit guarantee schemes, and facilitate rapid payment to savers from healthy and reliable deposit guarantee schemes in the interests of financial stability. For this reason, too, it is necessary for deposit guarantees to be harmonised and simplified as much as possible."@en1
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