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Deposit guarantee fund launched

Jul 16, 1998

TALLINN (Estonian Review) – The deposit guarantee fund came into effect on July 1, insuring all Estonian depositors against bank insolvency and bankruptcy.The aim of the fund is to increase the reliability of the banking system, enhance its stability and give small depositors some security in case of bankruptcies. All deposits would be insured for up to 20,000 kroons ($1,380), but not more than 90 percent of a deposit would be compensated for, said Vahur Kraft, The Bank of Estonia's President. " ...

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