We must, by law, always have enough funds available to meet all of our financial responsibilities.
These ‘capital requirements’ exist to make sure that we can continue to pay customers even in
extreme economic conditions.
We hold a ‘capital surplus’ of several billion pounds which means that we’ve an additional buffer
above the already very prudent amount of capital that we are required to hold. Less than 2% of our
assets are invested in sectors directly affected by COVID-19 (such as airlines, hotel, leisure and
traditional retail)
We’re highly rated for financial strength by all the major ratings agencies. This shows that we’re
financially strong, economically responsible and committed to business practices that will allow us to
keep our promises to you.
And finally, your benefits are also covered under the Financial Services Compensation Scheme.
Further information can be found at: www.fscs.org.uk
We are a long-term organisation with over 180 years of history. We have absolutely prioritised
essential services, including payments to our customers, who remain our top priority at all times.