EC seeks to up bank depositor protection to €100k

Under the proposals, from the end of 2013, customers would also get their deposits back within seven days, compared to three months at present. The EC is bidding to restore investor confidence shattered by the worst financial crisis since the 1930s, which has had a lasting impact on household savings and forced governments to shore up banks. It also opened a public consultation on improving how insurance policy holders are safeguarded. EU states and the European Parliament have the final say on the proposals, which seek to entice investors to save for their retirement and avo...