The Financial Services Compensation Scheme (FSCS) protects savers when authorised financial services firms fail.
FSCs are especially bad, since they influence the collection of taxes from individuals and companies.
FSCs' replacement of the Domestic International Sales Corporations, which exempted 25% rather than 15% of export profits.
FSCs are shell companies in offshore tax havens through which American firms channel foreign income to avoid tax.
Members who have loans from the union will be contacted about where to make future payments, the FSCS said.
FSCs are as worrying as their contravention of the rules of international trade.
But the Financial Services Compensation Scheme (FSCS) declared it was in default after some borrowers did not repay their loans.
The new FSCS rules apply to all members of the European Economic Area - the EU plus Iceland, Liechtenstein and Norway.
FSCs politically, as part of a broader deal that would take in bananas, beef hormones and several other bones of contention.
FSCs tend to be the richer ones, so the programme adds a regressive element to the otherwise flat corporate income tax.
The scheme's own surveys have suggested that 50% of savers were unaware of the protection for their funds that the FSCS provided.
The Financial Services Compensation Scheme (FSCS) said members would receive a letter or cheque to retrieve their money within the next seven days.
FSCs or as simple as ad valorem payments, their perpetuation relies on the interests of industries whose scope and lifetime they have extended.
FSCs partly in retaliation to American pressure over bananas and beef.
In 2000, Congress directed a reconfiguration of the program and shifted funding from the FSCS to a more ambitious concept known as Future Combat System (FCS).
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FSCs was carefully crafted to comply with global trade rules.
The authorities hope that the revamped FSCS rules, which will be the subject of a publicity campaign in early 2011, will be enough to stop another run on a bank.
The collapse of the Keydata has become the biggest problem yet for the Financial Services Compensation Scheme (FSCS) which has offered compensation to both sets of Keydata investors - SLS and Lifemark.
Banks and building societies regulated in the UK must make it clear at their branch counters that the FSCS cover is in place for their savers, even if they are not UK residents.
He said that the situation in Cyprus would not affect the way the FSCS was run. but he said that more needed to be done to ensure people knew of the protection that was in place.
Mr Neale, chief executive of the FSCS - the UK's deposit protection scheme - said the situation in Cyprus was "unique" and it was "inconceivable" that the same could happen in the UK. That meant UK savers should be confident that their funds were safe in UK banks.
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