FSA Website Announcement on Icesave

concorde

I agree with an earlier post regarding only guaranteeing up to the 50K limit.

For the past number of months there have been numerous reports in the news concerning the compensation limits applicable to savers. Those who ignored this warning in order to keep more of their savings (i.e. above 35/50K) at the highly attractive interest rates should learn their lesson... don't keep all your eggs in one basket and accept that you may have to put the excess over 35/50K in another account earning lower interest!

and ...

I find it amazing how the FSCS can pay out on a foreign bank that is not subject to as much FSA scrutiny as UK based banks. Why doesn't the government just withdraw this compensation for foreign banks given that they cannot properly supervise them?! .. may even help capitalise the UK banks!!

that's enough for now

debbie42

This doesn't appear to have been incorporated in the "are your savings safe" article at present, unless I'm not looking in the right place?

Reaper

Doesn't look like it - he's still saying "The bank is still operational." and "It's likely it will be declared insolvent in the near future". I'm sure it will be updated soon but in the meantime I do try to keep the FAQ up to date so people don't have to trawl through lots of threads to keep up.