Bank Deposit Tax Proposal

-Bank rescue rules in EU could affect large deposits.

Global Banking News-May 22, 2013–Bank rescue rules in EU could
affect large deposits(C)2013 ENPublishing –
http://www.enpublishing.co.uk

Global Banking News – 22 May 2013

A draft proposal under consideration by the European Union would
see large accounts being affected in case a banking crisis arises in
future.

Accounts above
EUR

100,000 would be affected, while smaller deposits
would be spared. The draft law would shield small depositors from losing
their savings in future bank rescues.

The plan is similar to a deal that
Cyprus
 , Gr. Kypros, Turk. Kıbrıs, officially Republic of Cyprus, republic (2005 est. pop. 780,000), 3,578 sq mi (9,267 sq km), an island in the E Mediterranean Sea, c.40 mi (60 km) S of Turkey and c.
 adopted recently. Under
the EU proposal, a bank would
levy

 a fee on large deposits once it has
exhausted other avenues during a crisis.

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