Government Bank Insurance Fund (Norway)
Encyclopedia
The Government Bank Insurance Fund is a Norwegian fund for deposit insurance
.
It established on 15 March 1991 in a situation where the Commercial Banks' Guarantee Fund and the Savings Banks' Guarantee Fund (now merged into the Banks' Guarantee Fund
) both struggled during the financial crisis in the years around 1990.
Deposit insurance
Explicit deposit insurance is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due...
.
It established on 15 March 1991 in a situation where the Commercial Banks' Guarantee Fund and the Savings Banks' Guarantee Fund (now merged into the Banks' Guarantee Fund
Norwegian Banks' Guarantee Fund
The Norwegian Banks' Guarantee Fund is a Norwegian fund for deposit insurance.It was established on 1 July 2004, because of legislation that passed the Parliament of Norway one week before. It was a merger of the Commercial Banks' Guarantee Fund and the Savings Banks' Guarantee Fund...
) both struggled during the financial crisis in the years around 1990.