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​EU Commission proposes to meld national deposit insurance into common fund

( November 24, 2015, 13:12 GMT | Official Statement) -- MLex Summary: Deposit insurance programs funds in the 19 eurozone countries would guarantee each other, to protect 100,000 euros of savings per person in case of a bank failure, in a proposal by the European Commission today. National funds for the participating countries would be fully melded together into the European Deposit Insurance Scheme by 2024, under the bill being put to legislators. Banks also will get more harmonized rules for their capital and liquidity, to reduce the risk of failure.The following is the text of the statement. Click the attachments at bottom for the full text of the proposal plus related documents....

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