Darling moots new powers for UK regulators to prevent another bank run
LONDON - UK Chancellor of the Exchequer Alistair Darling has announced plans to introduce US-style legislation to stop another bank run.
The new legislation - to be introduced in May - would give the Financial Services Authority (FSA) increased powers to protect customer assets in the event of a bank's collapse and would increase the size of protected deposits.
Under current rules, only the first £2,000 of a customer's deposits is fully guaranteed, followed by 90% of the next £33,000. New legislation might guarantee deposits up to
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