In early October, the German Government started work on a stabilisation programme, deciding to guarantee all private customer deposits at banking institutions without limit. The programme came into force on 18 October, under the Financial Market Stabilisation Act.The objective of the Act is to overcome the liquidity squeeze affecting financial institutions and to improve their equity. Under the Act, through a state-owned fund, the Government will:
December 10, 2008 at 10:03 PM
1 minute read
The original version of this story was published on Legalweek
A controversial state programme aims to breathe confidence back into Germany’s stricken financial sector
In early October, the German Government started work on a stabilisation programme, deciding to guarantee all private customer deposits at banking institutions without limit. The programme came into force on 18 October, under the Financial Market Stabilisation Act.
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