The Hellenic Deposit Protection and Investment Guarantee Fund; HDIGF or TEKE


The HDIGF guarantees all bank deposits up to €100k within the Greek banking system. Deposits above €100k are uninsured and not covered. The latter can be used in order to recapitalize a bank in the event of resolution. The former are in principle exempt and covered by a fund generated from an industry-wide levy. This process is common to most banking systems. The question that is often not asked is what happens if a systemic crisis leads to widespread bank failure and the accumulated fund cannot cover the insured deposits?

If one goes to the above link and clicks on Useful Information and then on  About Resolution, one is offered two tantalising links for further information on funding. In order to access one must move to Greek (click on the Greek flag) and then use translate if necessary. Click the first option (cover depositin translation). Right at the…

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