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A COUNT PROTECTION

4th October 2007, Page 37
4th October 2007
Page 37
Page 37, 4th October 2007 — A COUNT PROTECTION
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Which of the following most accurately describes the problem?

Under the Financial Services Compensation Scheme investors in commercial banks are entitled to 100% of the first 22,000 saved and 90% of the next 233,000 —double these figures for a joint account. The figures apply to each bank so spreading investments over several might be the safest option for larger amounts.

The government has gone a step further with Northern Rock -following the crisis 100% of all deposits are guaranteed by the Treasury, as is always the case with National Savings and Investment accounts.

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