The European Commission proposed in July 2010 a comprehensive review of the Directive on Deposit Guarantee Schemes (DGS) aimed at harmonising and simplifying the Directive in order to improve protection of deposits, maintain depositor confidence, and strengthen the safety net.
Your eligible deposits held with UK establishments of HSBC Bank plc and HSBC UK Bank plc, are protected by the Financial Services Compensation Scheme (“FSCS”), the UK's deposit guarantee scheme.
The FSCS provides compensation up to a limit of £85,000 per entity, for the total of any deposits you have with HSBC Bank plc, and separately HSBC UK Bank plc. Any deposits you hold above the limit are unlikely to be covered.
For more information on the scheme, please click on the FSCS poster below to open the FSCS leaflet and download the Financial Services Compensation Scheme Information Sheet or visit the FSCS website at www.fscs.org.uk.