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Deposit coverage limits to stay the same following consultation

The island's financial regulator says it's not asking for people to get more money covered in the event of a bank collapse.

The Financial Services Authority has published its response to a public consultation about the Depositor's Compensation Scheme.

It says some people had asked for coverage to be increased to £85,000 from its current £50,000 figure.

But it says the figure should match that of other Crown Dependencies, and other laws will help bank customers should the worst happen.

 

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