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Every country has its own regulation which defines the maximum coverage for deposits, payment mechanism during bank's failure etc. Deposit insurance and credit guarantee corporation in India is operated by Reserve Bank of India. Federal deposit insurance. corporation (FDIC) administers the insurance for deposits in the USA. The focus of this paper is on the deposit guarantee scheme in European Union and some key changes to the regulation. The scheme is triggered when a bank is declared insolvent and unable to repay its depositors. 

Every country has its own regulation which defines the maximum coverage for deposits, payment mechanism during bank's failure etc. Deposit insurance and credit guarantee corporation in India is operated by Reserve Bank of India. Federal deposit insurance corporation (FDIC) administers the insurance for deposits in the USA The focus of this paper is on the deposit guarantee scheme in European Union and some key changes to the regulation.