PMR Online access    |   tel. +48 12 340 51 00    |   E-mail: info@pmrcorporate.com
 


 

Sejm lifts bank deposit guarantee limit to €100,000


2010-11-25



The Sejm on 25 November voted to approve an amendment to the Bank Deposit Guarantee Fund (BFG) Act which doubles Poland’s bank-deposit guarantee ceiling to €100,000 from €50,000. The money is to be paid out within 20 working days of the Financial Supervisory Commission (KNF) establishing that a given bank is unable to meet its financial obligations.

The government expects that the change, which transposes provisions of the EU directive on deposit guarantee schemes, will boost confidence in the country’s financial sector among individuals and micro-, small and medium-sized firms. It will take effect on 31 December 2010.

It is the second such change in two years. In October 2008, at the height of the financial crisis, the Sejm voted to double the deposit guarantee limit from €22,500.



Browse and search in our archive »


subscribe to PMR RSS NEWS channelsSubscribe to PMR RSS NEWS channels »




Free monthly e-letter containing latest news, analyses and business information on economic situation in Poland, Russia, Bulgaria, Czech Republic, Hungary, Romania, Slovakia, Ukraine, Kazakhstan.
Relevant news
 

Useful links         Privacy Policy
Copyright © 2018 PMR. All rights reserved.

PMR is a British-American company providing market information, advice and services to international businesses interested in Central and Eastern Europe as well as other emerging markets. PMR key areas of operation include business publications (through PMR Publications), consultancy (through PMR Consulting) and market research (through PMR Research). With over fourteen years of experience, high international standards in projects and publications, highly skilled multilingual staff and a wide network of co-operating research companies and market experts, PMR is one of the largest companies of its type in the region.