Bank Savings Guarantees

patdunham

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?

Lokolo

I doubt it, but you never know.

Meltdown_2

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).

MattB_4

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.