The amounts covered by population’s deposit insurance scheme will be raised in the following days from 20,000 euros to 50,000 euros, covering the amounts deposited in any type of bank account, including the afferent return, according to Banking Deposits Insurance Agency.
Prime Minister Calin Popescu Tariceanu announced on Wednesday in a media briefing that the Ministry of Economy and Finances is preparing a law draft to increase the deposits insurance scheme up to 50,000 euros.
“We will adopt a measure to meet Romanian legislation with yesterday’s decision (Tuesday, e.n) of European Union on insurance deposits’ coverage”, stated the Prime Minister. Over 95% of the deposits are already covered by the current ceiling of 20,000 euros, the Prime Minister added.
European finance ministers have reached an agreement last week on increasing the minimum coverage limit for population’s bank deposits, from 20,000 euros to 50,000 euros.
Director of Supervisory Direction within NBR, Nicolae Cinteza, mentioned on Wednesday that “bank deposits are secured, as no bank in Romanian system is facing liquidity shortage”.
Guaranteeing bank deposits over the current ceiling of 20,000 euros for each person might lead to a rout, and in the present conditions, a decision of this kind is not justified, Misu Negritoiu, managing director of ING Bank said.
“I don’t think that securing all bank deposits is required. If we look abroad, central banks intervene when needed through tacit deposits insurance. A similar measure in Romania will lead more to a rout,” said Negritoiu.
However, the coverage of deposit at ING Bank Romania rose from 38,000 euros, to 100,000 euros, after the parent company from Holland made this decision.
ING Bank Romania, that works as a branch of ING Group is directly supervised by Holland’s central bank and observes regulati
