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(AFX UK Focus) 2008-11-11 10:45
Czech parliament approves deposit insurance rise
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PRAGUE, Nov 11 (Reuters) - The Czech lower house of parliament on Tuesday approved a bill raising bank deposit insurance to 50,000 euros from 25,000, moving in line with European Union safeguards to boost banking sector confidence.
Czech banks have largely been out of the firing line in the global financial crisis, with no state bailouts needed thus far.
The Czech government, which takes over the rotating EU presidency in January, has been critical of some EU member states for moving to full deposit insurance for their countries' banks.
Prime Minister Mirek Topolanek pushed last month for assurances the bloc's competition rules are not discarded.
Deputies voted 171 to zero on Tuesday for the bill.

(Reporting by Jason Hovet; editing by Patrick Graham) Keywords: FINANCIAL/CZECH (prague.newsroom@thomsonreuters.com; Reuters Messaging: jason.hovet.reuters.com@reuters.net; +420-224 190 476)

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