The Financial Services Compensation Scheme (FSCS) is in discussions with major financial services firms to display its logo in their TV adverts as part of its awareness campaign.
Its logo is also displayed prominently by UK authorised banks, building societies and credit unions in the form of posters and stickers in branches and information on their websites, after this was made compulsory in August last year.
However, the FSCS said that more needs to be done. It found that 75% of MPs believe that banks and building societies should also feature the FSCS logo in their advertising, as is the case with the equivalent scheme in the United States, the Federal Deposit Insurance Corporation (FDIC).
FSCS chief executive Mark Neale said: "Disclosure by firms is important because it can engage consumers and deliver the protection message when it is most relevant to people. However it is not sufficient on its own.
"Financial services firms have day-to-day contact with their customers and are well placed to promote FSCS protection which we know consumers value. We need their assistance to amplify our protection message. Indeed, some have already done so."
FDIC chairman Martin Gruenberg added: "Public awareness is critical to the success of an effective deposit insurance system. This has been a key objective of the FDIC in the US banking system. I commend chief executive Neale and the FSCS for this initiative to improve public understanding of the UK deposit insurance scheme."
The FSCS argues that a better awareness among consumers of how their deposits are protected means they are reassured and more likely to buy financial products, which in turn stabilises the sector.
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