Liberty and Finance Customer deposits in insolvent banks

[gerhard dengler]

A very interesting interview with an Australian contributor discussing the possible fate of customer deposits in banks that are insolvent

 

[TheWexfordInn]

Surely the bottom line for most people is that in the (repeatedly mentioned) bail-in scheme in Cyprus that depositors with less than 100,000 Euro did not lose any of their deposit.

That will cover most average depositors although there will have been people who had their entire live savings that was going to fund their retirement who lost out badly.

The take away message is don't deposit more than 100,000 Euro in any one bank.

 

[Oliver Plunkett]

In 2021 it might be better off under the mattress