A gold-plated savings guarantee that protects 100% of deposits for customers of Northern Rock is expected to be lifted within weeks as the government moves a step further in its rehabilitation of the nationalised bank. Northern Rock has provided a haven for retail deposits since it was put under state control two years ago, as the government has underwritten all of its customers’ deposits.
By comparison, savers with accounts elsewhere have only the first £50,000 insured by the government.

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