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The UK's Prudential Regulation Authority (PRA) has confirmed that the Financial Services Compensation Scheme (FSCS) deposit protection limit will rise from £85,000 to £120,000 starting 1 December. This increase aims to enhance consumer confidence in UK banks by providing stronger financial safeguards during bank failures. The change reflects regulatory efforts to align deposit insurance with evolving economic conditions and inflation. While primarily a domestic policy, the adjustment could indirectly influence forex markets by stabilizing UK banking sector perceptions.
