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It was established on 15 July 1978 under the Deposit Insurance and Credit Guarantee Corporation Act, 1961 for the purpose of providing insurance of deposits and guaranteeing of credit facilities. DICGC insures all bank deposits , such as saving, fixed, current, recurring deposit for up to the limit of Rs . 500,000 of each depositor in a bank.
Article 6 requires that the "coverage level" is €100,000 "in the event of deposits being unavailable". It also requires greater coverage for 3 months to 12 months for residential transactions, social purposes or insurance and compensation money. This directive updates the previous directive 94/19/EC of 30 May 1994 on deposit-guarantee schemes ...
The system of deposit guarantee in Ukraine operates according to the Law of Ukraine "On Households Deposit Guarantee System" of 23 February 2012, Ref. number 4452-VI. [ 56 ] and covers deposits up to ₴200,000 (about US$7,550 or €6,660 at September 2016 rates).
The Dodd–Frank Wall Street Reform and Consumer Protection Act (P.L.111-203), which was signed into law on July 21, 2010, made the $250,000 insurance limit permanent, [48] and extended the guarantee retroactively to January 1, 2008, meaning it covered uninsured deposits banks like IndyMac. In addition, the Federal Deposit Insurance Reform Act ...
The Crown Retail Deposit Guarantee Scheme was an opt-in deposit insurance scheme, established under the Public Finance Act 1989 in New Zealand during the Great Recession, 2008 to 2011. Dr Michael Cullen , Finance Minister at the time of the scheme's introduction said, "The deposit guarantee is designed to give assurance to New Zealand depositors.
The Depositors' and Investors' Guarantee Fund (Icelandic: Tryggingarsjóður innstæðueigenda og fjárfesta) is the statutory deposit insurance scheme in Iceland.It is established under Act No. 98/1999 on Deposit Guarantees and Investor-Compensation Scheme, [1] which transposes European Union directives 94/19/EC [2] and 97/9/EC [3] into Icelandic law, in accordance with the decisions of the ...
The Savings Deposit Insurance Fund of Turkey (Turkish: Tasarruf Mevduatı Sigorta Fonu), a.k.a. TMSF in abbreviated form, is the governing body concerned with matters of fund management and insurance in the Turkish banking system. The body was founded in 1933 with the name Deposit Protection Act (Turkish: Mevduatı Koruma Kanunu).
Regulation CC stipulates four types of holds that a bank may place on a check deposit at its discretion. Each has its own qualifications and it is legal for the bank to place any type where the requirements are met, although bank policy may instruct that the type of hold placed be the one that holds the most funds the longest that can be applied legally.