• Doing business with the FSA
  • Small Firms
    • General information
      • Small firms library

 

Our overview for small firms gives background and highlights the main points in the Policy Statement.

Credit unions will be part of the deposit class, alongside banks and building societies. They will share proptionally in any levy required from the deposit class, and this will be based on their share of the class' tariff base (protected deposits).

The important sections of PS07/19 for you to read are:

• Chapter 3 – the new funding model and where your firm will fit in, especially paragraphs 3.29 to 3.32.

• Chapter 4 – how much each sub-class would be expected to pay, especially the table within 'Our response' after paragpah 4.10 and pragraphs 4.25 to 4.27.

• Chapter 7 - will help you estimate the amount of compensation you may be required to pay in the proposed scheme.