Revise deposit protection rules

Mr Darling has promised legislation to give depositors more protection and quicker access to their funds in the event of problems with their savings institution - although so far there has been no sign of the promised Commons statement on Northern Rock.

He has already had to backtrack on suggestions that the deposit guarantee level be raised to £100000. The suggestion now is £35000 - barely more generous than the current deposit protection regime 100 of the first £2000 and 90 of the next £33000 - £31700 in total.

05 October 2007 Moneyextra.com

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