DCS key dates and documents

Deposit Takers Bill passed

The DCS was introduced as part of the Deposit Takers Act 2023 which brings all deposit takers under a single regulatory regime.

Proportionality Framework

Following consultation, we released the Proportionality Framework which sets out how we take a proportionate approach when developing prudential standards for licensed deposit takers under the DTA.

DCS Levy Framework

Following consultation, the Government agreed that the deposit takers’ levy should be calculated using a risk-based method.

Deposit Takers Regulations 2025

Deposit Takers Regulations published on 28 January 2025.

Summary of submissions and policy decisions on the DCS Standard

Following consultation, we published our response to submissions on 3 of the 4 core standards. The response sets out the prudential requirements deposit takers will need to meet in order to be licensed under the DTA.

DCS Transitional Standard published

The Transitional Standard sets out how deposit takers should gather alternate bank details from depositors in the event of a failure, so that DCS payments can be made as quickly as possible.

DCS Product Hierarchy published

The purpose of this paper is to indicate how we might exercise our discretion to prioritise different types of deposits for DCS compensation under section 228 of the DTA.

DCS comes into effect

The DCS commenced on 1 July 2025.