Government Bank Accounts Guarantee

Investment Management Association (IMA)

The Investment Management Association (IMA) has called on the government to act as guarantors and look after 100 per cent of savings in bank accounts.  Guy Sears, director of wholesale of the Investment Management Association (IMA) has said that a separate deposit insurance system was needed to assure depositors that they would have immediate access to their money in the event of insolvency as the Financial Services Compensation Scheme (FSCS) cannot ensure this.  

The aim would be to give depositors continuous access to their funds irrespective of what happens to the bank itself.  

Our view

We suggest this extremely unlikely and would encourage both bankers and the financial services regulator to not be a strict in monitoring financial stability.

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