LONDON Nov 21 The Bank of England has proposed
raising "insurance" on bank account deposits to 85,000 pounds
($104,839)from January 30, 2017, after a sharp fall in the value
of sterling following Britain's decision to leave the European
"Restoring the limit to 85,000 pounds - the level in effect
for almost five years prior to 3 July 2015 - is intended to
provide a measure of memorability and consistency," the BoE's
Prudential Regulation Authority arm said in a statement.
Lenders would have until the end of June 2017 to implement
the necessary changes to systems.
($1 = 0.8108 pounds)
(Reporting by Huw Jones, editing by Carolyn Cohn)