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Introduction: PRA Publishes Final Rules on FSCS Protection Limit
On 18 November 2025, the Prudential Regulation Authority (PRA) published Policy Statement PS24/25 – Depositor Protection, alongside an updated Supervisory Statement SS18/15 – Depositor Protection, effective 1 December 2025.
These publications confirm the revised FSCS deposit protection limit and outline the PRA’s expectations for system changes, disclosure updates and customer-facing processes across UK banks, building societies, credit unions and overseas firms with deposit permissions.
This bulletin provides a technical compliance update for senior management, regulatory reporting teams, risk and compliance officers, CIO/CTO functions and data and operations teams.
It summarises the implementation requirements set out in PS24/25 and SS18/15 to support firms in preparing for the regulatory changes taking effect from 1 December 2025.
Overview of PS24/25 – Final PRA Rules on FSCS Deposit Protection
According to PS24/25
- The policy statement sets out the PRA’s feedback to consultation responses and confirms the final rules relating to the FSCS deposit protection limits.
- The new protection limit applies for firm failures occurring on or after 1 December 2025.
- Rules apply to:
- PRA-authorised banks, building societies and credit unions
- Overseas firms with permission to accept deposits
- UK branches where relevant
- The FSCS as administrator of the UK deposit guarantee scheme
- Eligible depositors
- Transitional arrangements are provided for firms to update disclosure and advertising materials.
SS18/15 (Dec 2025): PRA Expectations for Implementing the New Deposit Protection Limit
The Supervisory Statement outlines firm-level expectations for implementing the protection-limit change.
New FSCS Deposit Protection Limit Requirements (Chapter 12A Extracts)
The PRA sets out:
- Firms must ensure their systems can accommodate changes to the deposit protection limit without delay, including future changes.
- All references to the limit must be updated as soon as practicable after 30 November 2025 and no later than 31 May 2026.
- Required updates apply to information sheets (Annex 1), exclusions lists (Annex 3), product literature, websites and mobile applications, advertising materials and all relevant brand documentation.
- Customer-facing staff must be trained on:
- the new limit,
- who is protected, and
- implications for depositors with aggregate eligible deposits above the limit.
- Staff training must be completed by 1 December 2025 or as soon as possible thereafter.
- Until training is completed, staff should direct customers to the FSCS website.
- SCV systems must be updated on 1 December 2025 so that the correct compensation amount is populated in SCV Field 51.
Is your SCV ready for £120k protection?
CIO/CTO Guide: System Changes for FSCS Deposit Protection Limit
From SS18/15 (Chapter 12A)
- SCV systems must be updated on 1 December 2025 so that the revised limit is correctly applied.
- All systems that support deposit protection must be able to accommodate protection-limit changes without delay.
- This applies to:
- Core banking systems
- SCV generation engines
- Exclusions view-file systems
- Digital onboarding platforms
- Systems generating disclosures referencing the protection limit
- System-dependent materials must reflect updated limits within the transition window ending 31 May 2026.
CCO & Compliance Leadership Guide: Regulatory Exposure and Disclosure Requirements
According to PS24/25 and SS18/15
- Firms must update all references to the protection limit across customer communications.
- The PRA expects changes to be made as soon as practicable after 30 November 2025.
- Firms have a six-month transitional period for disclosure updates, ending 31 May 2026.
- Customer-facing staff must be trained by 1 December 2025 or as soon as possible thereafter.
- Until training is complete, customers must be directed to the FSCS website.
- These obligations span depositor disclosures, system accuracy, SCV completeness and customer communications.
Compliance Checklist for Deposit-Taking Institutions
(All items below reflect specific requirements from PS24/25 and SS18/15)
By 1 December 2025
- Update SCV systems to apply the new protection limit.
- Ensure SCV Field 51 reflects the correct compensation amount.
- Complete customer-facing staff training required by SS18/15.
- Direct customers to FSCS until training is complete.
- Confirm systems are able to support future limit changes “without delay.”
By 31 May 2026
- Update all references to the protection limit across:
- Information sheets
- Exclusions lists
- Product and service documentation
- Website content
- Mobile applications
- Advertising materials
- All brands and customer channels
Ongoing PRA Expectations for UK Banks, Building Societies & Credit Unions
- Maintain SCV readiness within the submission timelines set out in depositor-protection rules.
- Maintain accurate SCV and exclusions-view files reflecting eligible depositors and compensation amounts.
- Ensure consistency in customer disclosures across all channels.
Conclusion: PRA Deadlines and Operational Expectations
The new FSCS deposit protection limit applies to firm failures occurring on or after 1 December 2025, following the final rules set out in PS24/25 and the supervisory expectations in SS18/15.
UK deposit-taking institutions must complete system updates, disclosure revisions, and staff training within PRA-defined timelines. Firms must update all references to the limit by 31 May 2026 and maintain operational readiness for FSCS payout requirements in line with depositor-protection rules.
Next Steps: How Macro Global Supports Your FSCS Readiness
Our team is available to assist with planning and implementation to help ensure a smooth and disruption-free transition.
The upcoming SCV Alliance v25 release is scheduled for rollout in line with the PRA’s revised depositor protection rules effective 1 December 2025. This new version incorporates 245+ validations and 40+ enhanced features designed to strengthen compliance, audit readiness and operational resilience across SCV and depositor-protection workflows.
If you would like support in reviewing your current SCV readiness, planning your transition activities, or preparing your teams for the updated PRA requirements, you can reach our compliance and product specialists at:
+44 204 570 8230 / +44 204 570 8269
Strengthen Your FSCS Compliance
Request an SCV health check or transition-planning session with our regulatory specialists.
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