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A Congressional proposal to increase the amount of bank deposits protected by government insurance is facing opposition from the Bush administration and the Federal Reserve.
A proposal to increase the amount of bank deposits protected by government insurance was unanimously approved yesterday by a Congressional subcommittee, despite opposition from the Bush administration.
The government has also lifted from £35,000 to £50,000 the limit of retail deposits protected under the official compensation scheme at any one banking group.
C1 Deposit Insurance Limits A Congressional proposal to increase the amount of bank deposits protected by government insurance, currently $100,000 a depositor, is facing opposition from the Bush administration and the Federal Reserve.
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The deposit protects the issuer if you don't make your payments.
Deposits up to the 100,000-euro limit for insured deposits are protected, although the capital controls may mean it will be a while before depositors can get their hands on the money.
Other clubs are aiming to assure members that their deposits are protected.
"My hope is that people take a deep breath tand realize that their deposits are protected by our government".
"My hope is that people take a deep breath and realize that their deposits are protected by our government," the president said.
"My hope is — is that people take a deep breath and realize that their deposits are protected by our government," the president said.
Laiki Bank UK said deposits are protected up to a total of €100,000 by the Cyprus Deposit Protection Scheme, operated by the Cypriot government, which itself is facing bankruptcy.
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