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United Kingdom · Question · Written question

UIN 102085

Financial Services Compensation Scheme

answeredUnited Kingdom· UK Parliament· EN

Introduced

12 October 2020

Last action

15 October 2020 · Answer

Status

Answered

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Discovery layer

Source updated

15 October 2020

Official sourceShare

Summary

To ask the Chancellor of the Exchequer, if he will raise the FSCS compensation rate of £85,000 at the end of the transition period.

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Timeline

  1. 12 October 2020

    Written question

    To ask the Chancellor of the Exchequer, if he will raise the FSCS compensation rate of £85,000 at the end of the transition period.

    Source: Commons

  2. 15 October 2020

    Answer

    The Prudential Regulation Authority (PRA) is responsible for setting the UK’s deposit protection limit. The current limit of £85,000 has been in place since 2017 and protects more than 97% of eligible depositors’ accounts. There are currently no plans f...

    Source: Written answer

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