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Deposit Protection Scheme |
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Deposit Protection SchemeA scheme set up to give limited financial protection to people with deposits in authorised banks which fail. Banks are authorised and supervised by the Financial Services Authority (FSA) and they are obliged to provide details of their deposit protection scheme and their claim procedures if requested by depositors. The FSA publishes a list of banks which are authorised under the 1987 Banking Act. The UK Deposit Protection Scheme covers 90% of a bank's total liability to a depositor subject to a set maximum.Similar MatchesContent protectionContent protectionSee domestic content protection. Patriotism argument for protectionPatriotism argument for protectionThe view that one is helping one's country by buying domestically produced goods instead of imports. In a nondistorted economy, this is not correct, since the country can do better producing where it has a comparative advantage rather than using scarce resources where it does not. Labor standards argument for protectionLabor standards argument for protectionThe view that trade restrictions (trade sanctions) should be used as a tool to improve labor standards, limiting imports, for example, from countries that do not enforce such labor rights as freedom of association and collective bargaining. Contingent protectionContingent protectionAdministered protection. Import protectionImport protectionSee protection. Further SuggestionsExternalities argument for protectionSafeguards protection Cultural argument for protection Marine Mammal Protection Act Effective protection Consumer Credit Protection Act of 1968 court of protection Foreign investment argument for protection Retirement Protection Act of 1994 Actual protection rate mortgage protection Effective rate of protection Second-best argument for protection Employment argument for protection home responsibilities protection Payment protection insurance loan protection policy Tariff protection Domestic distortions argument for protection Self-sufficiency argument for protection Protection Securities Investor Protection Corporation Infant industry protection Nominal rate of protection Fairness argument for protection |
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