Romania Doubles Cap On Bank Deposit Guarantees To EUR100,000 As Of 2011

Romania’s Government on Tuesday decided to double the state guarantee on bank deposits as of next year, to at least EUR100,000 from the current EUR50,000, Finance Minister Gheorghe Ialomitianu said.

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He reminded banks may raise this minimum guarantee cap to attract higher deposits from clients.

The minister added the decision to raise the minimum cap on bank deposit guarantees is costing the state an estimated 590 million lei (EUR1=RON4.2878).

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