On 8 February 2018 HM Treasury published a consultation on a proposed change to the cash ratio deposit (CRD) scheme (our blog is here). The consultation set out the Government’s proposals to:

  • move from a fixed ratio to a ratio that is indexed to yields on a portfolio of gilts and is calculated every six months, as set out in the consultation;
  • leave all other parameters of the scheme unchanged. This includes the current value bands, with the threshold value band remaining at over £600 million; and
  • continue to monitor the effectiveness of the CRD scheme and conduct a further formal review within five years and publish a report in respect of that review.

On 12 April 2018, HM Treasury published a summary of the responses received to its consultation.