Is a gurantee to savers that all or a fraction of their deposits will be reimbursed if a bank fails. This is funded by the taxpayer. This is put in place to ensure that destructive bank runs do not occur by ensuring that depositors do not have a marginal propensity to run. Therefore savers will feel confident that there savings are safe even if the bank is troubled. As of 2015 the Bank of England increased the protection of up to £1million on certain depsoits.