EU Tells 14 Countries to Put Deposit-Insurance Rules in Place
- Infringement letters sent to 18 nations, 14 now need to comply
- Bank resolution rules still need action from nine countries
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The European Union is pursuing infringement proceedings against 14 member countries that haven’t changed their national laws to comply with the bloc’s new rules for deposit guarantee systems.
Belgium, the Czech Republic, Estonia, Greece, Italy, Cyprus, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Romania, Slovenia, and Sweden had not passed some or all of the necessary legislation as of Nov. 30, according to data from the European Commission, the EU’s executive arm. Four other nations also received formal notice that they were in line for infringement proceedings and have since brought their laws into compliance.