City Of London
UK Weighs Reform of Uninsured Bank Deposits After SVB Collapse
- Officials say focus is on business continuity for customers
- Taxpayers risk picking up the tab first after any failure
The headquarters of HM Treasury, London.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
The UK Treasury and Bank of England are considering reforms that would give uninsured depositors immediate access to their cash in the event of a bank failure, a move that could put taxpayers on the hook.
Authorities are looking into whether a portion of the money could be released upfront to help ensure business continuity for customers, according to government officials familiar with the matter.