Financial Services Compensation Scheme
Commons · Question 50098 · Tabled 6 May 2025 · Treasury · Official record
Answered 13 May 2025
Question
Asked by Mark Garnier
To ask the Chancellor of the Exchequer, what recent discussions she has had with the Prudential Regulation Authority on the potential merits of changes to the Financial Services Compensation Scheme deposit protection limit.
Answer
Answered by Emma Reynolds, 13 May 2025
Eligible deposits held by UK banks, building societies and credit unions that are authorised by the Prudential Regulation Authority (PRA) are protected by the Financial Services Compensation Scheme up to £85,000. The PRA sets this limit and is required to...