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Hi Asli,

Deposit insurance, as far as I know, is a characteristic of developed countries (here in Canada all deposits are insured until $100k, in the US it is $250k). I don't know whether developing, or under-developed countries have deposit insurance.

I think the deposit insurance in the US is quite high at quarter a million (this is the standard - some are even covered for more), so it might be that it was contributing factor to the crisis.