Advertisement
UK markets close in 1 hour 25 minutes

  • FTSE 100

    8,046.59
    +6.21 (+0.08%)
     

  • FTSE 250

    19,560.75
    -158.62 (-0.80%)
     

  • AIM

    752.42
    -2.27 (-0.30%)
     

  • GBP/EUR

    1.1650
    +0.0005 (+0.04%)
     

  • GBP/USD

    1.2458
    -0.0004 (-0.03%)
     

  • Bitcoin GBP

    50,846.12
    -2,200.67 (-4.15%)
     

  • CMC Crypto 200

    1,371.61
    -10.96 (-0.79%)
     

  • S&P 500

    4,995.05
    -76.58 (-1.51%)
     

  • DOW

    37,768.59
    -692.33 (-1.80%)
     

  • CRUDE OIL

    82.37
    -0.44 (-0.53%)
     

  • GOLD FUTURES

    2,330.30
    -8.10 (-0.35%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • HANG SENG

    17,284.54
    +83.27 (+0.48%)
     

  • DAX

    17,831.81
    -256.89 (-1.42%)
     

  • CAC 40

    7,963.10
    -128.76 (-1.59%)
     
Stocks:

Trending tickers

Microsoft, Alphabet, Anglo American, IBM, Astrazeneca, Unilever and Sainsbury's

BoE to raise deposit "insurance" after pound's Brexit plunge

Reuters - UK Focus

LONDON, Nov 21 (Reuters) - The Bank of England has proposed raising "insurance" on bank account deposits to 85,000 pounds ($104,839)from January 30, 2017, after a sharp fall in the value of sterling following Britain's decision to leave the European Union.

"Restoring the limit to 85,000 pounds - the level in effect for almost five years prior to 3 July 2015 - is intended to provide a measure of memorability and consistency," the BoE's Prudential Regulation Authority arm said in a statement.

Lenders would have until the end of June 2017 to implement the necessary changes to systems. ($1 = 0.8108 pounds) (Reporting by Huw Jones, editing by Carolyn Cohn)