Editorial: Time to pay for risk

Richard Jory

Depositary insurance schemes are flawed. Created to ensure retail investors do not withdraw deposits from banks at the first whiff of trouble, these schemes have been developed, enhanced, made bigger and ultimately abused.

In the first throes of the financial crisis, depositary insurance schemes were in the first line of fire as various governments increased the amount of the deposits covered in order to prevent runs on banks. It worked, and banks breathed a sigh of relief at being able to condu

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