If RBS were to be declared to be in default by the United Kingdom's Financial Services Compensation Scheme ("FSCS"), Bristows would not be liable for any loss of the deposits but certain clients may be eligible to receive compensation from the FSCS.
Clients that may be eligible to receive compensation from the FSCS include private individuals and small companies within the size limits specified by the FSCS.
An eligible client may receive compensation from the FSCS up to a specified limit which is £85,000 as at 30 January 2017. However, this limit applies to the total amount of all deposits held by RBS for that client including any deposits held by other members/brands of the RBS group that are authorised by the United Kingdom's Financial Services Authority under the same authorisation as RBS. Individual clients may be eligible to higher protection for temporary high balances.
For further details please visit www.fscs.org.uk.