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Both Germany and the US insure savings accounts for 6 figure amounts, meaning bankruptcy is not a major concern for most people.
by alextheparrot 9y ago
Both Germany and the US insure savings accounts for 6 figure amounts, meaning bankruptcy is not a major concern for most people.
- cabaalis 9y agoThis may be so. I often wonder though if this "disaster recovery plan" has been tested with any bank of significant size. Maybe that's where the whole too-big-to-fail thing comes in.
- mrec 9y agoDepends what you consider significant. The UK's Financial Services Compensation Scheme, which handles depositor protection, paid out over 26 billion pounds in the 2006-2011 period. At the same time, though, the govt did push Lloyds TSB to take over HBOS in 2008 rather than let the latter fail.