We're aware that some users are experiencing technical issues which the team are working to resolve. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

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

Options
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..."

OfficialStamp.gif

Comments

  • alanq
    alanq Posts: 4,216 Forumite
    1,000 Posts Combo Breaker
    edited 10 February 2010 at 3:30PM
    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
  • 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
    1,000 Posts Combo Breaker
    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."
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.7K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.4K Spending & Discounts
  • 243.7K Work, Benefits & Business
  • 598.4K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 256.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.