Poland increases guarantees on bank deposits

WARSAW — Poland's president gave his approval Monday to a law increasing guarantees on bank deposits to euro50,000 ($63,000).

Lech Kaczynski's signature was the final step in enacting the law, which provides a substantial increase in guarantees on bank accounts. Previous legislation only guaranteed deposits up to euro1,000.

The Polish parliament passed the law in late October to calm nerves amid the global financial crisis.

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