SS18/15 Depositor protection | Bank of England

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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
Disclosure
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.

Current version

Published 30 June 2023. Effective from 1 July 2023.

Supervisory Statement 18/15 – June 2023 (PDF)

- following PS7/23 – Depositor Protection

Past versions

Published on 24 March 2021. Effective from 29 March 2021.
- Supervisory Statement 18/15 – March 2021 (PDF)
- Following PS4/21 ‘Depositor protection: Identity verification’

__________________________________________________________________________________________________________________

Published on 18 December 2020. Effective from 11.00pm Thursday 31 December 2020.
- Supervisory Statement 18/15 – December 2020 (pdf)
- Following PS27/20 ‘The Bank of England’s amendments under the European Union (Withdrawal) Act 2018: Changes before the end of the transition period’

Published on 19 September 2017. Effective from 19 September 2017.
- Supervisory Statement 18/15 - September 2017 (PDF)
Updated to provide clarity in paragraph 3.16 on the use of the FSCS badge.

Published on 18 April 2019. Effective from the date of the UK’s withdrawal from the EU at the end of the Implementation Period.
- Supervisory Statement 18/15 - April 2019 (pdf)
Published as part of joint Bank of England and PRA Policy Statement 5/19 ‘The Bank of England’s amendments to financial services legislation under the European Union (Withdrawal) Act 2018’.

Near final future version - published to 28 February 2019. No longer effective (superseded by the April 2019 version above).
- Supervisory Statement 18/15 – February 2019 (pdf)
Published as near-final as part of joint Bank of England and PRA Policy Statement 5/19 ‘The Bank of England’s amendments to financial services legislation under the European Union (Withdrawal) Act 2018’.

Published on 16 January 2017. Effective from 16 January 2017.
- Supervisory Statement 18/15 - UPDATE January 2017 (PDF)
- following Policy Statement 1/17 ‘Deposit protection limit’.

Published on 31 July 2015. Effective from 31 July 2015.
- Supervisory Statement 18/15 - UPDATE 31 July 2015 (PDF)
- following PS18/15 ‘Depositor and dormant account protection’.

Published on 20 July 2015. Effective from 20 July 2015.
- Supervisory Statement 18/15 - UPDATE 20 July 2015 (PDF)
Updated Chapter 12 to advise firms to discuss options with their supervisors.

Published on 3 July 2015. Effective from 3 July 2015.
- Supervisory Statement 18/15 - UPDATE 3 July 2015 (PDF)
- following Policy Statement (PS) 14/15 ‘Depositor and dormant account protection – the protection limit' and PS15/15 ‘Depositor and policyholder protection – technical amendments’.

Published on 20 May 2015. Effective from 20 May 2015.
- Supervisory Statement 18/15 - UPDATE May 2015 (PDF)
- following Policy Statement 9/15 ‘Depositor and dormant account protection – further amendments’.

Published on 1 April 2015. Effective from 1 April 2015.
- Supervisory Statement 18/15 (PDF)
- following Policy Statement 6/15 ‘Depositor and dormant account protection’.

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