Expanded deposit insurance

Okategoriserad / Uncategorized 6 October 2008

The Swedish government proposed an expansion of the deposit insurance as of October 6, 2008. The changes will strengthen the consumer protection for the general public’s deposits in banks.

According to the proposal, the compensation level will be raised from SEK 250,000 to SEK 500,000. Moreover, all types of savings accounts will be included.

The government will also be able to widen the Swedish deposit insurance to include affiliates of foreign banks in Sweden, should the deposit insurance in the home country not be fully met.