Question
Suppose that you have local currency ( for Cameron, Bahamas and Algeria) equivalents of the following accounts: Savings account $10,000 Current Account $10,000 CD (one
Suppose that you have local currency ( for Cameron, Bahamas and Algeria) equivalents of the following accounts: Savings account $10,000 Current Account $10,000 CD (one year maturity) $15,000 CD (five year maturity) $17,500 plus the following foreign currency accounts: $10,000 10,000 Suppose the bank fails. How much can you expect to recover/to lose from deposit insurance given deposit insurance in the jurisdictions in which you have been assigned? What percent did you, as the depositor, actually recovery of the total sums that were deposited at the failed bank (with all foreign currency accounts converted into the relevant local currency)?
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