Why would it? It's the supervisor not the resolution authority. The ECB’s job is to declare a bank failing or likely to fail. Then the Single Resolution Board (SRB) resolves the bank which can involve the write-down of certain classes of creditors and in some cases drawing on the national DGS.the ECB won’t come to the rescue of depositors in a Latvian bank.
Representing less that 1% of covered deposits…Yea but there is an EU resolution fund with €64bn in it.
I didn’t suggest that it should - I’m familiar with the resolution framework.Why would it?
Are you confusing the national DGSs with the EU Single Resolution Fund?Representing less that 1% of covered deposits…
You raised the ECB (supervisor) in response to a comment about the EBA (standard setter).I didn’t suggest that it should
I don’t see evidence of it to be honest and there is a lot of confusion on this thread which you haven’t reduced.I’m familiar with the resolution framework.
Nope.Are you confusing the national DGSs with the EU Single Resolution Fund?
No I didn’t!You raised the ECB (supervisor) in response to a comment about the EBA (standard setter).
Nobody said they would. Nobody mentioned the ECB. You still seem unable to accept that EU deposit guarantee schemes can mean deposit guarantee schemes within the EU. An Irish company is an EU company. Etc. Hence the use by EBA and many other EU entities of the phrase.I am, but I’m also making a point.
DGS are national schemes; the ECB won’t come to the rescue of depositors in a Latvian bank.
An EU company (known as a Societas Europaea or SE) is a company registered in accordance with the corporate law of the EU.An Irish company is an EU company. Etc.
Given the topic of this particular thread, you should deposit only €100k in any single EU bank if you want to ensure deposit protection coverage. Otherwise, you are (albeit unlikely) 'risking' 50k. There are a few threads on here showing where you can get a decent rate of interest.Im interested in finding out where I can deposit 150K safely and make money on interest.
With all due respect, you still seem to be carrying the same issue with reading things the way they are intended. I referred to EU DGSs, and EU companies - in the simplest sense that they are entities within the EU. Everyone knows what I meant. Nearly everyone.An EU company (known as a Societas Europaea or SE) is a company registered in accordance with the corporate law of the EU.
An Irish company, on the other hand, is registered in accordance with the corporate law of Ireland.
So, there’s a difference.
If you meant DGS operating within the EU, you could have said so.
Anyway, I simply wanted to make the point that there is no single, unified EU DGS.
I think you agree with that so let’s move on…
Great, I’ve made my point.I'm happy to move on too
Badly!Great, I’ve made my point.
Thanks. I had a look at raisin. Not sure it sounds good as a guarantee?Given the topic of this particular thread, you should deposit only €100k in any single EU bank if you want to ensure deposit protection coverage. Otherwise, you are (albeit unlikely) 'risking' 50k. There are a few threads on here showing where you can get a decent rate of interest.
Deposits in that bank up to €100k are covered by the Italian DGS.Thanks. I had a look at raisin. Not sure it sounds good as a guarantee?
Yes. This says it all in one sentence. Technically, it should be a 'covered institution' , i.e. an institution covered by the relevant DGS.Given the topic of this particular thread, you should deposit only €100k in any single EU bank if you want to ensure deposit protection coverage. Otherwise, you are (albeit unlikely) 'risking' 50k. There are a few threads on here showing where you can get a decent rate of interest.
Given the topic of this particular thread, you should deposit only €100k in any single EU bank if you want to ensure deposit protection coverage. Otherwise, you are (albeit unlikely) 'risking' 50k. There are a few threads on here showing where you can get a decent rate of interest.
Thanks. I had a look at raisin. Not sure it sounds good as a guarantee?
If you go to the 3% offer: https://www.raisin.ie/term-deposit/banca-farmafactoring-3-months-bff604/#bank-product-details
Security and deposit guarantee
Italy is a republic in southern Europe, one of the largest economies in the world and, according to the Human Development Index (HDI), one of the most developed countries. In addition, Italy has been one of the founders of the EU and a member of the euro zone since 2002.
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