BVR Video: Why Our Protection Scheme Should Itself be Protected

BERLIN, November 23, 2015 /PRNewswire/ --

The European Commission wants to convert all the national deposit guarantee schemes into one unified European system. However, not every EU country's deposit protection is as well developed as Germany's. Many countries first need to develop their own deposit protections according to the EU Deposit Guarantee Directive - since 2015 all countries in the EU have been required to have deposit guarantee schemes - and fill them with money. Otherwise in an emergency the insurance money intended for a country´s deposits would flow to countries with less insured finances. German cooperative banks are standing firm by individual responsibility. This film, published by National Association of German Cooperative Banks (BVR), explains why our protection scheme should itself be protected:

http://www.bvr.de/Press/Why_our_protection_scheme_should_itself_be_protected

National Association of German Cooperative Banks (BVR)
Press spokesperson:
Melanie Schmergal

Schellingstrasse 4
10785 Berlin
Germany
Tel: +49(0)30-2021-1300
Fax: +49(0)30-2021-1905

Website: http://www.bvr.de
Email: press@bvr.de