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Guarantees

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bricro1 | 22:50 Fri 25th Jan 2008 | Personal Finance
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Deposits with banks and B.Societies up to �35K are guaranteed. Who is the guarantor?
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Avatar Image Ethel
The Financial Services Compensation Scheme

http://www.fscs.org.uk/consumer/faqs/

23:08 Fri 25th Jan 2008
Avatar Image bricro1
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Thank you. I have read through the FAQs ,
a can of worms!
Where will the FSA get money from if a "major" bank defaults., the Taxpayer!

Much obliged,Bricro
07:19 Sat 26th Jan 2008
Avatar Image buildersmate
Where else did you expect the money to come from?

Its political expediency. Thousands of Equitable Life policyholders had no such guarantee - and they DID lose out - not just might lose out.
07:48 Sat 26th Jan 2008
Avatar Image factor-fiction
FSCS is funded by levies on firms authorised by the FSA
http://www.fscs.org.uk/consumer/faqs/
12:47 Sat 26th Jan 2008

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