What the EU is doing and why
Deposit guarantee schemes (DGS) reimburse up to a certain amountto compensate depositors whose bank has failed. A fundamental principle underlying DGS is that they are funded entirely by banks, and that no taxpayer funds are used.
See Also
Bank account16 Safest Banks In Europe | Adam FayedOpening a German bank account as a non-German: How it works – firma.deTypes of legislation | European UnionUnder EU rules, deposit guarantee schemes
See Also
Retained EU Law- protect depositors' savings by guaranteeing deposits of up to €100000
- help prevent the mass withdrawal of deposits in the case of a bank failure, which can create financial instability
The EU has gradually increased the level of deposit protection since the first directive for DGS was introduced in1994.
