First published on 1 April 2015
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
- Marking eligible deposits and transitional issues
- Temporary high balances
- Calculation of levies
- Single Customer View
- In-flight transactions
- Continuity of access
This statement is intended to be read together with the rules contained in the Depositor Protection 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 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.