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The UK branches of foreign banks from the European Economic Area (EEA) have to specify that their customers are not covered by FSCS and clearly state which national scheme provides protection. On 14 January 2013 FSCS launched a consumer awareness programme, aiming to reassure consumers and boost confidence, thereby aiding financial stability.
Thankfully, the panic was partly managed by people knowing about the Financial Services Compensation Scheme (FSCS). Today, you might recognise FSCS logo that appears when you open your banking ...
FSCS may refer to: Financial Services Compensation Scheme – UK government agency Future Scout and Cavalry System , a joint British–American scout vehicle
The Isle of Man bank depositors' insurance scheme was introduced in 1991, to cover 75 percent of the first £15,000 per depositor per bank, but it was the October 2008 crisis-stricken Icelandic government's seizure of Kaupthing Bank in Iceland after the United Kingdom suspended the trading licence of Kaupthing's British subsidiary that ...
FSCS: Financial Services Compensation Scheme – the UK's statutory deposit insurance and investors' compensation scheme for customers of authorised financial services firms. CGS: Credit Guarantee Scheme – a scheme introduced in 2008 allowing banks to issue debt guaranteed by the government. The scheme closed in October 2012.
The Bank launched in 2015 and provides fixed rate bonds, notice accounts, easy access accounts and cash ISAs. [10] Eligible deposits with the Bank are protected by the Financial Services Compensation Scheme, the United Kingdom's deposit protection scheme, for savings up to the value of £85,000. [11]
The Netherlands and the UK have higher guarantee levels, €100,000 and £50,000 (approx. €60,000) respectively; Landsbanki was a member of the Dutch and British compensation schemes for the purposes of guaranteeing this difference in cover, an arrangement known in Britain as the "passport system", and commonly used by banks throughout the ...
Prior to 31 December 2010, deposits with building societies of up to £50,000 per individual, per institution, were normally protected by the Financial Services Compensation Scheme (FSCS), but Nationwide and Yorkshire building societies negotiated a temporary change to the terms of the FSCS to protect members of the societies they acquired in ...