UK bank guarantee

[slantiger]

Hi,

Does the UK bank guarantee of GBP50,000 apply "per person" or "per person per institution"?

Thanks.

 

[Lightning]

Per person per institution.

It increases to 100,000 EUR per person per institution from January 1st 2011.

 

[slantiger]

Just out of curiosity - why is the UK bank guarantee denominated in EUR starting from January 2011?

 

[Kev]

BBC website says that the UK borrowed 10billion in October how is that safer than Ireland

http://www.bbc.co.uk/news/business-11783261


http://www.bbc.co.uk/news/business-11773243

 

[slantiger]

We must differentiate between UK (government) and UK banks (private). Same as in Ireland - where Ireland (state) is fully funded (presumably) until mid next year, while the banks is a different story.

 

[Lightning]

Just out of curiosity - why is the UK bank guarantee denominated in EUR starting from January 2011?

The EU are trying to standardise it.