The EU Deposit Insurance Directive: Does One Size Fit All?
The EU Deposit Insurance Directive: Does One Size Fit All?
This chapter focuses on and evaluates the EU Directive and questions the harmonization of deposit insurance policies on an international scale. EU member states are obligated to adopt explicit deposit insurance to retain membership. The chapter then questions the effectiveness of this directive and if it would also be best applied not just for adopting countries, but for other countries as well. The main features of deposit insurance policies are described in the chapter, as well as the international aspects of it. It asks if harmonization of deposit insurance policies is beneficial on an international scale and if national deposit insurance policies contain international ramifications. The directive may have eliminated competitive advantages for early adopters of deposit insurance; however the high coverage of 20,000 euros may lead to reduced financial stability and high fiscal costs.
Keywords: harmonization, deposit insurance policies, EU Directive, explicit deposit insurance, EU member states, European Union
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