How It Works
Deposit insurance institutions are for the most part government run or established, and may or may not be a part of a country’s central bank, while some are private entities with government backing or completely private entities.
There are a number of countries with more than one deposit insurance system in operation including Austria, Canada (Ontario & Quebec), Germany, Italy, and the United States.
On the other hand, one deposit insurance system can cover more than one country: the Marshall Islands, the Federated States of Micronesia, and Puerto Rico are insured by the US Federal Deposit Insurance Corporation.
Cameroon, the Central African Republic, Chad, Congo, Equatorial Guinea, and Gabon will also be covered by a single system.
Read more about this topic: Deposit Insurance
Famous quotes containing the word works:
“Through the din and desultoriness of noon, even in the most Oriental city, is seen the fresh and primitive and savage nature, in which Scythians and Ethiopians and Indians dwell. What is echo, what are light and shade, day and night, ocean and stars, earthquake and eclipse, there? The works of man are everywhere swallowed up in the immensity of nature. The AEgean Sea is but Lake Huron still to the Indian.”
—Henry David Thoreau (1817–1862)