ONE of the frustrations of watching the States ‘in action’ – is that two words or one? – is how fast it can move when it really wants to.

A FAST-TRACKED depositor protection scheme was yesterday approved by the States.

A MEMBER of the Policy Council has said he is pleased that a depositors’ protection scheme will be brought before next month’s States meeting.

GUERNSEY’S depositors’ compensation scheme will match the UK’s in offering protection of up to £50,000 per person.

WHEN the Policy Council brings forward its report on a depositor protection scheme for debate later this year, one of the issues States members will consider is whether the cost of the system and its effects on the banking sector here are justified by the reputational benefits achieved.

THE States deserves criticism over Landsbanki Guernsey’s collapse and should be prepared to apologise, a poll-topping deputy has claimed.

A SCHEME to protect bank deposits held in Guernsey could be in place by the end of the year.

A PANEL has been set up to examine the details of an industry-funded deposit protection scheme for Guernsey.

AN ANNOUNCEMENT yesterday that the Policy Council had agreed to ‘a measured course of action which will maintain confidence in the local banking sector and address the concerns of local depositors’ will be followed by an immediate question from islanders: What, by doing nothing?

POLICY COUNCIL members yesterday ruled out a States-funded deposit protection scheme for Guernsey.