Savings news: page 2
- May 2023
Record net withdrawal from UK savings in May 2023
Bank of England data shows households withdrew £4.6bn more from savings accounts than they paid in during May 2023, the largest net withdrawal since monthly records began in October 1997.
- March 2023
Silicon Valley Bank and Credit Suisse collapse sparks FSCS review
The Bank of England is reviewing the deposit guarantee scheme after the March 2023 collapses of Silicon Valley Bank and Credit Suisse, including whether to raise the £85,000 protection limit.
- January 2023
Resolution Foundation publishes briefing note on government savings policies
The Resolution Foundation has published a briefing note assessing government support for household saving, recommending that Help to Save be extended beyond 2023 and that tax-free ISA savings be capped at £100,000.
- May 2022
Consultation on affordability test withdrawal closes
The Bank of England's Financial Policy Committee consultation on withdrawing its mortgage affordability test Recommendation closed on 6 May 2022, with a decision and formal withdrawal expected within 12 months.