In most cases they are covered. here is what the FR website says:
Deposits not eligible for cover include:
- interbank deposits;
- certificates of deposit;
- items which make up the own funds or capital of the institution;
- deposits in respect of which a money laundering offence has been committed;
- deposits by a company connected to the credit institution;
- deposits by a person who had responsibility for or who profited from the failure of the credit institution;
- deposits by the directors, secretary, chief executive or their close families;
- deposits by financial institutions (as defined in the European Communities Second Banking Co-Ordination Directive);
- deposits by insurance companies;
- deposits by the Governments or municipal, local, regional or provincial authorities of any State;
- deposits by collective investment schemes;
- deposits by pension and retirement funds;
- debt securities; and
- deposits by large companies (as defined under companies legislation).