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They are talking about the govt. standing behind an entire banking operation without limit, rather than the limited consumer guarantee.
No, they are not. I thought I'd been careful to bring up retail vs other, ringfencing etc. You and @rhowe can stand down. I guess I need to revise the history of the FCFS limits. [Edit: they were about £30,000 before NR collapse, which is a lot more than I thought]
chez_jay
They are talking about the govt. standing behind an entire banking operation without limit, rather than the limited consumer guarantee.