THE  BANK  OF  ENGLAND  BASE  RATE  IS  CURRENTLY  SET  AT  0.50  %

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Surprised interest rate cut - 8th Oct 2008

Bank of England, European Central Bank, and US Federal reserve have cut their interest rates in a first co-ordinated move to deal with the current financial crises.

Icesave bank’s UK customers to get all their money back - 8th Oct 2008

Chancellor of the Exchequer Alistair Darling has promised that he will protect 100 % deposits of British customers of the collapsed Icelandic bank Icesave and that no one will lose any money.

Kaupthing Edge bank’s UK operation closed down by the FSA - 8th Oct 2008

Kaupthing Edge is the second Icelandic bank to collapse is as many days, leaving hundreds of thousands of British Savers with no access to their money. Financial Services Authority (FSA) has closed down its British operations.

Deposits of up to £50,000 protected from today - 7th Oct 2008

From today, (07/10/2008) British depositors will be covered for up to £50,000 per person per bank if the bank collapses. This covers 50 % of the total  amount of UK deposits.

Icesave customers unable to access their accounts - 7th Oct 2008

300,000 UK customers who have accounts with the Icelandic bank Icesave have been unable to access their bank accounts today amid reports that the bank is insolvent.

Alliance & Leicester fined millions for insurance mis-selling - 7th Oct 2008

Financial Services Authority (FSA) has fined Alliance & Leicester (A&L) a record £7 million for mis-selling Payment Protection Insurance (PPI).




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