Research (Proinvestory.cz)
Markets  |  April 12, 2013 15:24:52

Who owns the money in the bank?


In mid-March, I situation in Cyprus called "currency reform" . It was based on a statement that all   deposits   Cyprus will be subject to tax, the rate of which will be graded according to the amount of the deposit.

Since then, the situation has changed of times and the latest version talks about the rescue of troubled banks (so-called "bail-in") to pay off depositors others with more than 100 thousand euros in the account. Precisely because depositors lose their deposits and the remaining portion of them will be exchanged for shares of the Bank, identifies a number of comments this procedure for theft, etc. The problem is that the money is in the bank is generally not considered an investment.

If the "bail-in" look from the perspective of accounting, the situation is slightly different. Therefore, tips for using it in the future. The depositor is a key information.

39px georgia, times, serif; color: rgb (51, 51, 51); text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal;-webkit -text-size-adjust: auto;-webkit-text-stroke-width: 0px; "> How does it look from the perspective of accounting?

People often live in the belief that when you put your money in the bank, they are still "their" money that they kept in the bank. Wrong.

39px georgia, times, serif; color: rgb (51, 51, 51) text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal;-webkit -text-size-adjust: auto;-webkit-text-stroke-width: 0px; "> Realistically man and a deposit in the bank to invest - in particular, the bank loaned money (even if the contract does not talk about money a bank loan, but a current read, term deposit or any banking product) and got it for interest (I'm not going now at this point to discuss its amount). What bank clients to see their bank statements, including interest, is not de facto how much money they have saved in the bank, but how much they owe the bank, how much of it borrowed.

39px georgia, times, serif; color: rgb (51, 51, 51); text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal;-webkit -text-size-adjust: auto;-webkit-text-stroke-width: 0px; ">" bail-in "procedure is similar procedure as in bankruptcy any other company. In this case, lenders are losing some of their claims, or is will recapitalize.

Investment depositors in Cyprus and they came out of some of their lost investment. According to the chief of UniCredit Bank should this principle be used even if other troubled banks . This statement would all depositors should note the ears on a similar principle is spoken in other countries, starting with the United States or Canada and ending with Great Britain.

What happens if the bank suddenly finds himself in trouble and is unable to meet its obligations? What will happen then?

0px; "> Depositor come luckily everything, a certain part of him throughout the EU guarantees the state.

Within the EU, deposits are guaranteed up to € 100,000 for each bank. The same limit applies to deposits in the Czech Republic. In the Czech Republic is the guarantor of the Deposit Insurance Fund , which guarantees the payment of insured deposits. I note, however, that if they are deposits held at branches of foreign banks operating in our market (eg ZUNO, ING ...) And these deposits are insured in the country where the seat of the parent bank.

Currently, the Deposit Insurance Fund has about 25 billion crowns (about 1% of insured deposits in the Czech Republic). The Fund is required by law to commencement of the insured deposits of 20 days from the date of issuance of the notice of insolvency. Mentioned by 25 billion crowns in the event of problems, larger banks might not be enough. Therefore, in June 2012 approved preventive CNB ten-year bond program fund of 100 billion. Last week (specifically the 5thApril) announced the Deposit Insurance Fund will begin preparations tender for public contracts on the choice of a syndicated loan of EUR 100 billion.

What's in it for depositors mean?

Not to outdo.

Distribute funds among several banks should be commonplace for people whose financial resources are greater than € 100,000, not to mention that not all assets should be deposited in bank accounts.

For practical reasons, I recommend the same division of banks and people, their resources are far from reaching the amount of € 100,000. After all, despite deposit insurance should not have your money in case of major problems for some time and get liquidity is nowadays foreclosures and things like key concern.

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