Romanian Govt To Hike Corporate Deposits Guarantee Limit To EUR50,000

Also, the term of receiving the guaranteed amount is reduced from 3 months to 20 days, according to an emergency ordinance draft discussed in the government meeting Wednesday.

In Romania, the deposits’ guarantee threshold for individuals was increased, as of October 15, 2008, to the equivalent of EUR50,000 to protect people’s savings on the backdrop of financial crisis.

At the end of 2008, the European Parliament approved guaranteeing household deposits by up to EUR50,000 in 2009 and up to EUR100,000 in 2010, in case a European bank goes bankrupt.