Thursday December 19 2013
News Source: Global Exchanges
Focus: Stock Exchange Corporate Governance
Type: General
Country: European Union
Link: http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/140156.pdf
The Lithuanian Presidency reached a provisional political agreement with the European Parliament on the revised Deposit Guarantee Schemes Directive on December 17 in Brussels. The aim of the Directive is to ensure sufficient financial means in the DGS funds and fast pay-outs to depositors.
Under the Deposit Guarantee Schemes Directive, all credit institutions will be required to join Deposit Guarantee Schemes. All schemes will be supervised on an on-going basis and will have to perform regular stress tests of their systems. The proposed Directive will ensure that information regarding protection by Deposit Guarantee Schemes is provided to depositors in a clear and understandable manner.
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