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Financial Services Compensation Scheme
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far from sufficient to cover the Dutch and British claims. The cost of deposit insurance in the UK is not completely clear as of November 2008. The Financial Services Compensation Scheme (FSCS) paid around £3 billion to transfer deposits from Heritable Bank and Kaupthing Singer & Friedlander to ING Direct, while the UK Treasury paid an additional £600 million to guarantee retail depos |
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Financial Services Compensation Scheme
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d banks operating in the UK. It has been suggested that the UK Financial Services Authority (FSA) had agreed to take Icesave deposits under the UK Financial Services Compensation Scheme (FSCS) in return for a liquidity deposit of £200 million (€240 million): British newspaper ''The Independent'' reported that the requested liquidity deposit might have been as high |