December 12, 2002
Financial Services Agency
Financial Services Agency
New Deposit Insurance System
On December 11, 2002, the Bill to amend the Deposit Insurance Law and other related laws was passed at the 155th session of the Diet, resulting in the revision of the deposit insurance system. The following is a brief description of the revision.
Current deposits, ordinary deposits and specified deposits will remain protected in full until March 31, 2005.
- In the case of time deposits, etc., the principal in the amount of no more than 10 million yen and the interest, etc. will still be protected per person at each financial institution.
- From April 2005 onwards, non-interest-bearing deposits such as current deposits will be protected in full.
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