The current law states that are outside CEOs and senior management people reporting directly to the board or executive committees.
The shareholders and directors of Banco Madrid remain outside the protection of 100,000 euros per holder conferring the Deposit Guarantee Fund (FGD).
Also be excluded first-degree relatives. Customers where bleaching has certainly not enjoy, predictably, this coverage.
First of all bank customers Madrid, estimated at about 14,000 Quite apart from the unitholders of funds and investment companies with variable capital (SICAV) of gestora-, enjoy unquestioning protection: granting them the FGD. However, not all depositors will enjoy such protection.
Excluded are made by the directors and major shareholders of the entity. At least those who do not get the money before surgery or until Friday 13 day until they could withdraw deposits.
Each holder of an account or a deposit is insured up to 100,000 euros .
So pondered the Bank of Spain on Monday when he announced requesting the bankruptcy of the bank, intervened on Tuesday, March 10, and reiterated the FGD itself in a note explaining that it will reimburse guaranteed deposits with the utmost urgency. Previously, the Fund for Orderly Bank Restructuring announced that the Bank will not bail Madrid.
The current law states that are outside CEOs and senior management people reporting directly to the board or executive committees.
The law also excludes protection FGD spouses and first-degree relatives of directors and shareholders. It was designed so in order to prevent bank managers assume excessive risks, knowing that their money was secured by a third body.
Similarly, the royal decree excluded from the protection of FGD to companies and brokers, to insurers and investment fund managers and pension funds.
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