Treasury backs down on deposit protection for savers - reports

The Vickers report called for retail depositors to be paid back before all other creditors if a bank collapses. Investors and banks have argued that could risk destroying the market for bank debt and cause corporate deposits to flee the UK. The argument is one the Treasury finds convincing, according to sources familiar with its thinking, City AM reports. As a result it plans to drop the recommendation on "depositor preference"  from the final version of Vickers implemented by the government, according to sources, on the grounds savers with up to £85,000 in the bank are already pro...