It is decisive that all banking customers, enterprises and financial lenders can now feel absolutely safe about having their money deposited – regardless of the amount – with the banks.

The Danish Bankers Association is pleased that the Danish government and parliament have acted swiftly to adopt the legislative package in which the Kingdom of Denmark unconditionally guarantees creditors’ claims against losses in Danish banks.

It is decisive that all banking customers, enterprises and financial lenders can now feel absolutely safe about having their money deposited – regardless of the amount – with the banks.

The Act ensures that Danish and international financial businesses can now safely lend money to the banks in Denmark – the loans are fully guaranteed. The Act takes effect as from Sunday 5 October.

- The government and the parliament have exercised responsibility and commitment in this matter. They have understood the serious nature of the situation, kept up to date with the escalating developments in the markets and responded when it was necessary, says Jørgen A. Horwitz, Chief Executive of the Danish Bankers Association.

- It is now important to communicate the message about the financial guarantee, and we expect that it will have the desired effect in the money markets, says Jørgen A. Horwitz.