BoE to adjust deposit protection limit again

Northern Rock suffered a run in 2007

The Bank of England plans to restore the limit on UK deposit insurance to its previous level, it said today (November 21), citing the demands of European law.

The BoE's Prudential Regulation Authority (PRA) is consulting on plans to return the limit for full protection of deposits to £85,000 ($106,000). The limit was only lowered to its current level, £75,000, in January this year, the latest in a series of changes in recent years.

The PRA said its decision to raise the limit again was due to a

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