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Home > Prudential Regulation Authority > Depositor and dormant account protection - SS18/15 UPDATED
 

Depositor and dormant account protection - SS18/15 UPDATED

03 July 2015
31 July 2015 - Content on this page has been updated
 
For the update published on 31 July 2015 see:
 
 
 

​20 July 2015 - Content on this page has been updated

For the update published on 20 July 2015 see:

Depositor and dormant account protection - SS18/15

For information only, the publication issued on 3 July 2015 is available below.

Update 3 July 2015: SS18/15 was updated and published alongside PS14/15 ‘Depositor and dormant account protection- the protection limit’ and PS15/15 ‘Depositor and policyholder protection - technical amendments’ - see Related Links. The main updates relate to amendments made in PS14/15 concerning the change in the deposit protection limit.

This supervisory statement sets out the expectations of the Prudential Regulation Authority (PRA) on deposit-takers with regards to the depositor protection rules. Areas covered include:

  • Eligibility for deposit protection
  • Disclosure
  • Marking eligible deposits and transitional issues
  • Temporary high balances
  • Dormant Account Scheme information requirements
  • Calculation of levies
  • Single Customer View
  • In-flight transactions
  • Continuity of access
  • The change in the deposit protection limit

This statement is intended to be read together with the rules contained in the Depositor Protection  and Dormant Account Scheme Part of the PRA Rulebook. This statement is relevant to deposit-takers to which these rules apply.

By setting out the PRA’s expectations with regards to the Depositor Protection and Dormant Account Scheme rules, this statement may help to minimise the adverse effect that the failure of a PRA-authorised firm could have on financial stability and enhance depositor confidence and therefore contribute towards the safety and soundness of firms.

Supervisory Statement

Depositor and dormant account protection - SS18/15

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