| Synopsis: |
This publication presents a further consultation paper on financial stability and depositor protection in the UK, following on from an earlier consultation document published in January 2008 ("Financial Stability and Depositor Protection: Strengthening the Framework (Cm. 7308)" - ISBN 9780101730822, available below). The January 2008 consultation paper summarised the actions being taken by the Treasury, the Financial Services Authority (FSA) and the Bank of England in response to the disruption being experienced in the global financial markets.Five key objectives were set out: strengthening the stability and reliance of the financial system; reducing the likelihood of individual banks facing difficulties; reducing the impact when banks do experience difficulties; providing effective compensation arrangements; and, strengthening the Bank of England.A full summary of the proposals to meet the above objectives is set out in the first chapter of this follow-up consultation, with the remainder of the document examining the January proposals in detail. |