Banking Bill

Who will decide how to deal with the depositors in a failed bank? In the Bradford & Bingley case, it was decided that the best solution was to transfer them across to Banco Santander/Abbey. In the Icelandic banks situation, some depositors were transferred across to ING Direct, and others were effectively left with the FSCS. Part of the point of the amendment was to flush out who took responsibility for taking those decisions.