Government Bank Guarantee Limit

The government adopted on Thursday a proposal that raises the limit of guarantees for bank deposits and savings from EUR 22,000 to EUR 50,000. The move comes on top of the temporary unlimited guarantees, which were introduced in 2008 as a response to the crisis and will be in place until 31 December 2010. According to the minister, amendments to the banking act adopted today also bring other improvements. They define the concept of associated persons, set down when associated persons hold qualified shares in companies, and define payment services.

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