UK savers could have up to £110,000 protected under regulator’s new plan
by Kalyeena Makortoff Banking correspondent from World news | The Guardian on (#6W9SH)
Rise from current limit of 85,000 would be first big change to protection scheme since 2008 banking crisis
UK savers would have up to 110,000 of their deposits protected if their bank or building society goes bust under proposals put forward by the Bank of England.
The plan, put forward by the central bank on Monday, represents a near-30% hike from the current limit of 85,000, and would mark the first substantial change to the savers' protection scheme since the 2008 banking crisis.
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