Is your money safe at Italy’s UniCredit Bank?
Per UniCredit CEO
Cutting large deposits in failing banks, along with other liabilities such as bonds, to offset losses is acceptable as long as small savers’ funds remain protected
The bank takes depositor money to fund losses incurred by the bank. And he wants this to become the norm for all banks worldwide.
Ghizzoni said deposits should only be included when bonds aren’t sufficient, and those below the guaranteed level of 100,000 euros should be off limits. While he would prefer not to touch them at all, including deposits in a global plan was a acceptable solution, he said.
Will your money be safe at UniCredit Bank?
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