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Supporting banks, savers and investors
The government has taken action to ensure that the banking system remains on a sure footing in the face of continuing and exceptional instability across the world's financial markets. Find out more about these measures below.
Implementing support for the banking system
Monday, 13 October 2023
The government has announced that it is going to buy newly issued shares in the Royal Bank of Scotland (RBS) and also HBOS and Lloyds TSB, when their merger is complete, to provide these banks with more funds to run their businesses.
Landsbanki, Icesave, Heritable and Kaupthing banks
Friday, 10 October 2023
The Chancellor has put in place arrangements to ensure that all retail depositors in three Icelandic banks will receive their money in full.
Savings guarantee is increased to £50,000
Friday, 3 October 2023
The Financial Services Authority (FSA) has increased the compensation limit for bank deposits from £35,000 up to a total of £50,000 for each customer's claim. This increase applies from Tuesday 7 October 2008.
Public ownership of Bradford & Bingley
Monday, 29 September 2023
All of Bradford & Bingley's direct channels including its retail branches and its savings accounts have been transferred to Abbey. The rest of the business, including the mortgage operation and headquarters, has been taken into public ownership by the government.
Northern Rock deposits
Thursday, 20 September 2023
HM Treasury has confirmed that the guarantee arrangements for existing deposits in Northern Rock PLC cover all accounts existing at midnight on Wednesday 19 September.
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Icelandic-owned banks
Action to protect the retail depositors in Icesave, Heritable and Kaupthing Edge
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