BoE prepares shake-up of UK deposit insurance
Proposals aim to boost efficiency of payouts, as Bailey hints limits could be raised
The Bank of England has outlined plans for a shake-up of UK deposit insurance, amid a worldwide debate over its role in promoting financial stability.
The BoE’s proposals, published on April 18, aim to increase the efficiency with which depositors are paid back in the event of a bank failure.
As well as benefitting depositors, the central bank notes the changes could help the banks themselves. “These changes, if successfully implemented, will reduce risks to depositors and the financial system
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