Call for mutual model to protect UK deposits

Senior City of London figures have called for the UK to set up a deposit protection scheme run by the banks, independently of any financial regulator.

At a City meeting organised by CSFI, a financial consultancy, Sir Adam Ridley, the chairman of The Equitas Trust, an insurer, and Kathleen Tyson-Quah, the chief executive of Granularity, a consultancy specialising in financial markets infrastructure, suggested any new deposit protection scheme should be established on the basis of mutuality wit

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