Government to Discuss New Bank Law

Bulgaria's Government will discuss on Wednesday a new bank law which will provide better guarantees for the bank deposits, reports the bTV national channel.

The law was drafted by the Finance Ministry and will introduce the EU rules for deposit guarantees.

The guaranteed sum will remain the same - EUR 100 000 or their equivalent.

They will also shorten the period of payments on guaranteed deposits – from 20 to seven days after a bank is declared insolvent and will introduce clearer conditions for the guarantees, better information exchange and tight rules for financing.

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