Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-16-Speech-4-219-000"
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"en.20120216.23.4-219-000"2
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"Regardless of the financial situation of a bank, strong or weak, it is impossible for it to have enough cash for the partial or full reimbursement of population credits in the case of massive withdrawals. For this reason, banking establishments are confronted with the ‘bank run’ phenomenon, where depositors believe that their deposits are not safe and try to withdraw them at the same time. National deposit guarantee schemes in the European Union are particularly important for our citizens and offer additional confidence for creating bank deposits. The European guarantee schemes compensate depositors in the event of payment defaults up to a certain coverage level. The ceiling level was raised, first, from EUR 20 000 to EUR 50 000, and, as from 2011, to EUR 100 000 per depositor.
This directive applies to absolutely all credit institutions and membership in a deposit guarantee scheme becomes mandatory. In this way, we will ensure that depositors can always make a claim and that all systems are sufficiently funded. A higher level of protection increases depositors’ confidence and leads to the avoidance of simultaneous withdrawals of funds by many depositors for fear of losing their money."@en1
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