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Discussion Paper on Banking Reform
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Contact: Rachel Le Brocq Date: 5 Nov 2007 |
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On 11 October, HM Treasury, the Financial Services Authority and the Bank of England, jointly launched a discussion paper, Banking Reform - Protecting Depositors, which seeks views on reforms to the framework for depositor protection (the FSCS) and for resolution of banks in distress. The paper asks whether the level of coverage for deposits should be increased from £35,000 and, if so, to what level and what are the benefits and costs of doing so. The deadline for comments is 5 December. The BSA will be submitting a response.
The discussion paper can be viewed here
And the joint press release here
