The Bank of England is consulting on plans to restore the limit of protection provided by the Financial Services Compensation Scheme (FSCS) to deposits with firms authorised by the Prudential Regulation Authority (PRA) to £85,000. The protection limit is currently £75,000. It would be raised from 30 January 2017, but firms would have until 30 June 2017 to implement the necessary changes to systems and materials.
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