When European guarantee kicking in?

[mmmmm]

Hi everyone, I can't seem to find confimation anywhere regarding the european deposit guarantee. Can anybody shed some light?

Rabo website reads:

"On the 10th March 2009 the Dutch Deposit Guarantee scheme has been extended until the end of 2010, when the European guarantee scheme will come into effect."


FSA website reads:

[broken link removed]

"The Financial Services Authority (FSA) has today confirmed that the new deposit compensation limit for the United Kingdom will increase from £50,000 to £85,000 per person, per authorised firm, from 31 December 2010.
This is the Sterling equivalent of the €100,000 deposit compensation limit which comes into force in all European Economic Area (EEA) member states at the end of the year"

I'd really appreciate it if anybody could confirm when/ if the european scheme is coming into effect. Thanks

 

[Lightning]

There is no ECB/EU wide guarantee at the moment. There is a plan for one in the future but nothing has been agreed so far.

The guarantee that Rabo are talking about is the effort to standardise the deposit protection at 100,000 EUR per depositor in every bank in the EU. This is supposed to be standardised from January 1st 2011. This guarantee is not backed by the EU or ECB. It is backed by the state in the relevant memeber state.