Deposit Guarantee Scheme: Difference between revisions
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imported>Doug Williamson (Add links.) |
imported>Doug Williamson (Create the page. PRA FSCS webpage http://www.bankofengland.co.uk/pra/Pages/authorisations/fscs/default.aspx) |
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(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. | ||
With effect from 2016, the guaranteed amount in the UK is limited to £75,000 (previously £85,000) | With effect from 2016, the guaranteed amount in the UK is limited to £75,000. (It was previously £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== | ||
* [[DGSD]] | |||
* [[FSCS]] | * [[FSCS]] | ||
* [[ | * [[Prudential Regulation Authority]] | ||
* [[Retail]] | * [[Retail]] | ||
* [[Stability]] | * [[Stability]] | ||
Revision as of 09:05, 10 August 2016
(DGS).
A scheme that guarantees certain bank depositors' funds - subject to specified limits - should the bank fail.
With effect from 2016, the guaranteed amount in the UK is limited to £75,000. (It was previously £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).
