Deposit Guarantee Scheme: Difference between revisions
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''Regulation.'' | |||
(DGS). | (DGS). | ||
A scheme that guarantees certain bank depositors' funds | A scheme that guarantees certain bank depositors' funds - subject to specified limits - should the bank fail. | ||
The guaranteed amount in the UK is limited and may vary from one year to the next. For example, for a failure after January 2017 the limit was £85,000. | |||
The limits were established as the approximate domestic currency equivalent of EUR 100,000. | The limits were established as the approximate domestic currency equivalent of EUR 100,000. | ||
The UK deposit guaranteee scheme is the Financial Services Compensation Scheme (FSCS), overseen by the Prudential Regulation Authority (PRA). | |||
==See also== | ==See also== | ||
* [[ | * [[BIP]] | ||
* [[ | * [[DGSD]] | ||
* [[Financial Services Compensation Scheme]] | |||
* [[International Association of Deposit Insurers]] | |||
* [[Prudential Regulation Authority]] | |||
* [[Retail]] | * [[Retail]] | ||
* [[Stability]] | * [[Stability]] | ||
[[Category:Accounting,_tax_and_regulation]] | |||
Latest revision as of 15:42, 19 June 2019
Regulation.
(DGS).
A scheme that guarantees certain bank depositors' funds - subject to specified limits - should the bank fail.
The guaranteed amount in the UK is limited and may vary from one year to the next. For example, for a failure after January 2017 the limit was £85,000.
The limits were established as the approximate domestic currency equivalent of EUR 100,000.
The UK deposit guaranteee scheme is the Financial Services Compensation Scheme (FSCS), overseen by the Prudential Regulation Authority (PRA).
