Bank guarantees capped at EUR 100,000

Parliament, or rather the government, is pushing through various legislative revisions this week, and one has capped the level of guarantee on bank deposits in Slovakia.

Yesterday the government pushed through its amendment to legislation that covers savers in the event that a bank gets into trouble, putting a cap of EUR 100,000 on people’s  savings, with effect from the start of next year.

The revision is in line with the EU directive that sets the limit on bank guarantees to the same amount. As the global economic crisis set it, in November 2008 the former government lifted the limit on bank guarantees, giving full reassurance to those who are lucky enough to have more than EUR 100,000 in savings in any one bank.

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