EU bank deposit scheme plans go in wrong direction

November 23, 2015 12:51 PM

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BERLIN Nov 23 The European Commission is setting false incentives with its plans for banks to pay more to fund a deposit guarantee and instead proposals on reducing risks in the banking sector are needed, German government sources said on Monday.

The EU executive wants to set up a European Deposit Insurance Scheme (EDIS) to increase guarantees for depositors in case of a banking crisis. The Commission is due to table proposals on Nov. 24 for an EU guarantee fund financed by banks.

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