The EU bank watchdog has urged member states to protect customer deposits in bra...
LONDON - The EU bank watchdog has urged member states to protect customer deposits in branches of British banks in the European Union if Britain leaves the bloc this month with no deal.
Bank deposits are covered by national deposit guarantee schemes which protects sums up to 100,000 euros under EU law - but that does not extend to branches of a bank from outside the EU. The regulator said the Britain’s departure was not likely to affect deposit protection in most credit institutions operating in the EU.
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