Written Question·Treasury·UIN 50098

Financial Services Compensation Scheme

Tabled: 6 May 2025

Answered: 13 May 2025

Named Day

Question

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

Emma Reynolds

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...

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