Friday, September 5, 2008

Deposit Protection Agencies: What Will Their Impact Be?

The Deposit Protection Agency Act, 2008, went into effect on the 11th of August 2008. Sound in principle, it requires depositors to know the true risk of a deposit, and helps to reduce depositors’ fear where financial institutions have problems or the government is burdened to support financial institutions, identifying specific amounts of money to be paid back to depositors. Nevertheless, it may also bring change and impact in both positive and negative ways.
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