Regulatory Protection
Banks are normally subject to prudential regulation which has the purpose of reducing the risk of failure of the bank. It may also have the purpose of reducing the extent of depositor losses in the event of bank failure.
Bank deposits may also be insured by a deposit insurance scheme, if applicable.
Read more about this topic: Deposit Account
Famous quotes containing the word protection:
“A strong egoism is a protection against disease, but in the last resort we must begin to love in order that we may not fall ill, and must fall ill if, in consequence of frustration, we cannot love.”
—Sigmund Freud (1856–1939)
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