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MSE News: Northern Rock 100% savings protection likely to go

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This is the discussion thread for the following MSE News Story:

"The state-owned bank has confirmed the full guarantee was never supposed to be permanent..."

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Comments

  • alanq
    alanq Posts: 4,216 Forumite
    Combo Breaker First Post
    edited 10 February 2010 at 3:30PM
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    The article fails to mention that

    "HM Treasury will ensure that all fixed term retail deposits, and any accumulated interest on them, will be guaranteed to the maturity of the fixed term."
    http://www.hm-treasury.gov.uk/d/northernrockplc_guarantee_agreement.pdf
  • web_ferret
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    I see that fixed rate bonds are covered.
    What if I have two separate fixed rate bonds that combined go over the £50k?
  • alanq
    alanq Posts: 4,216 Forumite
    Combo Breaker First Post
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    All banks covered by FSCS guarantee £50K. The point about the government's guarantee for Northern Rock is that it currently provides additional cover for any amount.

    As posted previously
    "HM Treasury will ensure that all fixed term retail deposits, and any accumulated interest on them, will be guaranteed to the maturity of the fixed term."
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