British deposit scheme to heap pressure on banks

Savers with the Irish arms of British banks are to benefit from enhanced deposit protection in the coming months, potentially triggering further pressure on Irish banks in their efforts to retain deposits.

2nd October, 2010
British deposit scheme to heap pressure on banks
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Savers with the Irish arms of British banks are to benefit from enhanced deposit protection in the coming months, potentially triggering further pressure on Irish banks in their efforts to retain deposits.

Britain’s Financial Services Compens at ion Scheme (FSCS), which guarantees deposits held in the Irish units of British-regulated banks, is to increase the ceiling for guaranteed amounts from £50,000 (€62,000) to the sterling equivalent of €100,000. The change will take effect in January....

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