Deposit guarantee plan

Deposit guarantee plan

The Central Bank of Curaçao and St. Maarten (CBCS) announced at a press conference in Willemstad that it had submitted a law proposal to both governments of the monetary union for a risk-based deposit guarantee system.

This means the premium to fund it will depend on each financial institute’s “risk profile.” The maximum covered amount is yet to be determined between the two countries and their commercial banking sector, but in the past mention was made of NAf. 8,000 to NAf. 10,000.