Deposit insurance or deposit protection is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due.
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11 Facts About Deposit insurance
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Deposit insurance systems are one component of a financial system safety net that promotes financial stability.
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3.
In Brazil, the creation of deposit insurance was authorized by Resolution 2197 of 1995, the National Monetary Council.
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5.
Isle of Man bank depositors' insurance scheme was introduced in 1991, to cover 75 percent of the first £15,000 per depositor per bank, but it was the October 2008 crisis-stricken Icelandic government's seizure of Kaupthing Bank in Iceland after the United Kingdom suspended the trading licence of Kaupthing's British subsidiary that compelled a radical revision of deposit insurance in the Isle of Man.
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6.
In July 2007, the Ordinance was repealed by an Act passed by the parliament called "The Bank Deposit Insurance Act 2000", which currently administers the Deposit Insurance system in Bangladesh.
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7.
Hong Kong Deposit insurance Protection Board is an independent and statutory institution formed to manage and supervise the operation of Deposit insurance Protection Scheme.
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8.
The most significant change on deposit insurance program is the discarding of blanket guarantee, which deemed could initiate moral hazard, and becoming the limited guarantee.
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9.
The insurance protects up to 10 million Yen per depositor per financial institution.
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11.
The level of the deposit insurance could be at the choice of the banks, and the inherent risk in that particular bank.
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