If a financial institution fails, the deposit protection scheme means customers can currently claim back the first £85,000 of their savings. That would rise to £110,000 under the new proposal.

The first phase will come into effect on Oct. 1, 2024 when the protection limit will stand at 800,000 Hong Kong dollars, and the second phase will start on Jan. 1, 2025. Enditem ...

The Prudential Regulation Authority (PRA) is proposing to raise the deposit protection limit of the Financial Services Compensation Scheme (FSCS) from £85,000 to £110,000. 1 31 March 2025 1 comment ...