DISCUSSIONS

Find the answers to many of your expat questions here

View Latest Posts

You're missing out...

As a member you can enjoy exclusive info and offers.

REGISTER NOW

french gov.protection oif Savings in French banks

Posted by jimbo99-445600 - Created: 3 years ago
0 0
Sorry no image available

8 replies (Showing replies: 1 to 8)

Sorry no image available
Posted by rance-781573 - 3 years ago

http://www.ft.com/cms/s/0/34246a94-563e-11e5-a28b-50226830d644.html#axzz3sjTpGtnM

This is the  part that might interest some investors. The banks and of course the EU know that a collapse like we had in Greece will do no good at all for the banks, nor the confidence of the public, especialy their investors and the people who have savings.

But now EU authorities find themselves in a bind: if they are to keep their promise not to touch deposits, they must complete the bank restructuring in little more than three months — before separate EU rules on bank bailouts come into effect on January 1.

Under those rules, any eurozone bank that accepts government financial assistance must first “bail in” creditors totalling 8 per cent of the bank’s liabilities. In effect, that means first wiping out shareholders, then lower-priority bondholders and, if that is not enough, senior bondholders and deposits over €100,000.

If you want to read more on the subject, simply put ithe words "Bail in" to Google

Sorry no image available
Posted by jimbo99-445600 - 3 years ago

do we have any internet sources/links that describe this bit of jiggery-pokerry ?

Sorry no image available
Posted by freespeech - 3 years ago

But beware of the new bail-IN rules which which make it clear that you are now considered an unsecured creditor of the bank. So don't expect any bank bail-OUT in the future. Better to own tangible assets (precious metals, real estate etc).

Sorry no image available
Posted by pachypach - 3 years ago

The credit agricole (and other livret A's) are now reduced to 0.75%

 

Sorry no image available
Posted by jimbo99-445600 - 3 years ago

did some leg work on this. and my credit agricole Livret A has me on 1.25% interest with no tax deducted. Cannot find anything better Thought about starting a payday lending service at 3% for triple the income, but failure rates are so high might be better to give it Osborne for the next war. ;-}

Sorry no image available
Posted by rance-781573 - 3 years ago
Sorry no image available
Posted by rance-781573 - 3 years ago

I guess you won't be looking for long term? If so, peruse this online help for finding where to place your money.Beware the offers of 3% for 3 months and an offer of so many €uros to join, unless you can take your money back out easily enough. I am afraid not much about at the moment.

Sorry no image available
Posted by pachypach - 3 years ago

http://www.cbanque.com/placement/garantie-depots.php#montant-garantie

guaranteed per account per bank up to 100000€

the law changed in 2010 (was incresed from 70000)

assurance vie is up to 70k