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Icesave press article

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gmtomkins

gmtomkins Posts: 8 Forumite

17 November 2008 at 10:10AM in Savings & investments

Just read this article in the Times...

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5168474.ece

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ed123_2 Posts: 556 Forumite

17 November 2008 at 10:16AM

...I would have thought the government would still have to pay the amount over the £50k limit as this is not covered by the fscs...

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nilrem_2 Posts: 2,188 Forumite

17 November 2008 at 10:36AM

ed123 wrote: »

...I would have thought the government would still have to pay the amount over the £50k limit as this is not covered by the fscs...

That is what the article states if I understood it correctly.

The FSCS will repay any further savings up to the usual threshold of £50,000 at a cost of £1.4 billion, with the Government stepping in to cover any amounts above this threshold.

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