Deposit Protection Schemes

Abstract This chapter reviews deposit protection arrangements which come into operation on the insolvency of a bank. It covers EU law requirements in the field of deposit protection; the implementation of those requirements in the UK by means of the Financial Services Compensation Scheme; the revisi...

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Bibliographic Details
Main Author: Proctor, Charles
Format: Book Part
Language:English
Published: Oxford University Press 2015
Subjects:
Online Access:http://dx.doi.org/10.1093/law/9780199685585.003.0013
https://academic.oup.com/book/57229/chapter/473861809
Description
Summary:Abstract This chapter reviews deposit protection arrangements which come into operation on the insolvency of a bank. It covers EU law requirements in the field of deposit protection; the implementation of those requirements in the UK by means of the Financial Services Compensation Scheme; the revisions to the powers and role of that scheme made pursuant to Part 4 of the Banking Act 2009; and the legal aspects of the recent diplomatic rift between the UK and Iceland, following from deposit protection arrangements applicable to the UK branch of an Icelandic bank.