Norges's Gjedrem: rethink deposit guarantee

Reducing commercial bank deposit guarantees per customer would bring the Norwegian system more into line with guarantee schemes in other countries, said Svein Gjedrem, the governor of the Norges Bank.

Gjedrem said that under the current deposit guarantee scheme, banks have bid up deposit rates to strengthen their liquidity and that this will eventually have an effect on lending rates.

Click here to read the speech.

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