Regulatory Alerts2016-01-01
Decree No. 12/2016 Coll. on the Depositor Information Template Concerning the Deposit Guarantee Scheme for the Client
The Czech National Bank issued Decree No. 12/2016 Coll. to implement EU Directive 2014/49/EC by establishing a standardized depositor information template for credit institutions. The decree mandates that banks disclose key details regarding the Financial Market Guarantee System, including the EUR 100,000 protection limit, reimbursement timelines, and contact information for the Deposit Insurance Fund. This regulation aims to ensure clients are adequately informed about deposit coverage and their rights in the event of a credit institution's failure.
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