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Deposit insurance Italy
The legislative decree n. 49 of 24 March 2011 provides for the
application of a maximum level of guarantee equal to 100,000 euro and a
20 working days payout limit, which may be extended by the Bank of Italy
only in exceptional circumstances for a further 10 days. The payout
limit starts from the compulsory administrative liquidation of the bank
in accordance with article 83 of the legislative decree n.385 of 1
September 1993.
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Along with the supervisory
activities and the lender of last resort function, deposit
guarantee is one of the basic elements of the safety net,
which is aimed at the stability of the banking system.
Through deposit guarantee, the social function of savings
and the monetary function of bank intermediation are
recognised and supported, and in the event of a bank failure,
traumatic effects on depositors may be avoided.
Protection is offered to the so-called "unaware (or not
sophisticated) depositor", who, having no access to needed
information, may not be able to evaluate the risk position
of the financial institution where his or her deposits are
kept.
Souce: http://www.fitd.it/en/deposit_guarantee/deposit_insurance.htm |
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