Why Bank of England is looking to bolster UK protections for savers
by Miles Brignall from on (#6ARSE)
Governor has played down repeat of financial crisis but review of payout policy points to unhappy memories
When Andrew Bailey revealed in a speech that the Bank of England was working on updating Britain's deposit insurance guarantee scheme, which gives government protection on savings up to 85,000 in the event of a bank run, it was with one eye on the recent shocks, and the other on events from 15 years ago.
Northern Rock, Bradford & Bingley, and Icesave may sound like names from another era, but the memory of what happened in 2007 and 2008 still reverberates around the Bank's Threadneedle Street offices to this day.
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