Large depositors could face losses under EU draft law

05/21/2013 | Reuters

The European Parliament Economic and Monetary Affairs Committee has approved a draft law that would protect depositors against losses on their savings if their bank were to get into serious trouble. However, depositors with more than €100,000 in savings could suffer losses if the bank collapses. "The case in Cyprus showed how important it is to have clear procedures for making shareholders, bondholders and ultimately depositors foot the bill," according to the committee.

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