Interesting banking factoid from Romania

Like anywhere in Europe, all bank deposits are guaranteed if the bank goes under, within a limit.

For a company account, that limit was until not too long ago 20.000 euro. Now, the limit has been raised to 50.000 eur.

See the chart bellow for an idea on how the limit has been raised. It kinda shows the evolution of the Romanian economy as well as the panic at the beginning of the finance crisis.

What seems surprising to me is that if you have a company with, let's say, 1 million eur in deposits, you would need to open accounts to 20 banks and spread your money.

If you have 2 million euro you are out of luck in this regard, because you would need 40 banks and Romania only has about 30 officially registered banks. (Of course, with 2 million euro in cash you would be one really happy camper.)

I wonder how a big company like Apple is handling this, given they had a few billion dollars in cash reserves last I checked.