Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-16-Speech-4-228-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2012-02-16"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"it"^^xsd:language2
lpv:document identification number	"en.20120216.23.4-228-000"2
lpv:hasSubsequent	lp_eu:2012-02-16-Speech-4-228-5002
lpv:speaker	lp:Sergio Paolo Francesco Silvestris2
lpv:spokenAs	substitute; BUDG (2012-01-19--2014-06-30)3 member; AGRI (2012-01-19--2014-06-30)3 substitute; Delegation for relations with Albania, Bosnia and Herzegovina, Serbia, Montenegro and Kosovo (2009-09-16--2014-06-30)3 member; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2014-06-30)3 member_of_the_bureau; EPP (2012-02-03--2014-06-30)3 unknown; Il Popolo della Libertà (2009-07-14--2013-12-11)3 member; Delegation for relations with the Maghreb countries and the Arab Maghreb Union (2009-09-16--2014-06-30)3
lpv:translated text	"Banks are special financial intermediaries because they are financed through deposits – instruments that are redeemable on demand and not liable for losses. The longer maturity of bank assets makes the repayment of deposits difficult in the event of an unexpected and simultaneous withdrawal request from depositors. A ‘run on the bank’ could spread to other banks and compromise the stability not only of the banking system but also of the entire economy. In order to prevent this risk, a growing number of countries have introduced a system of deposit guarantees, following the example set by the United States. Deposit insurance has been shown to be effective in preventing bank panic, but it undermines market discipline in respect of management and shareholders and creates moral hazard problems. In fact, it lessens the incentive for depositors to monitor how the bank is being managed; a lack of attention from depositors may encourage the bank to employ riskier methods, given that they will reap any profits whilst any losses will be burdened by the deposit guarantee fund and, if this proves insufficient, by taxpayers. I hope that the approval of this text, which we voted on this morning, will achieve the set objective of standardisation via a one-size-fits-all approach."@en1

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