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Bank Savings Guarantees
patdunham
Posts: 1 Newbie
The Government have suggested that they plan to increase the £35000 limit on Savings guarantee Target say £100000. Does anyone know if anything is happening?
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Comments
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I doubt it, but you never know.0
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There was a section in the latest consultation document (report due this month?) about increasing the limit. But I thought something more like £50,000 was being considered.
Strictly speaking, it is not up to the Government, but to the FSA to decide on the appropriate figure (after due consultation, etc).Imprudent granting of credit is bound to prove just as ruinous to a bank as to any other merchant.
(Ludwig von Mises)0 -
I work in Savings Strategy for Nationwide and I know my colleague was involved in reviewing a consultation document on this recently. As far as I know there are a variety of suggestions in there including upping the limits (£50k i think) and how the limit is applied, i.e. per banking license, per account, per brand, etc.0
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