This consultation document sets out the views of the Government, the FSA, and the Bank of England on these issues, building on responses to a discussion paper, ‘Banking reform – protecting depositors’ published in October 2007. The House of Commons Treasury Select Committee published its report, ‘The run on the Rock’ on 26 January. This consultation document takes account of the Committee’s report, which makes a positive and useful contribution. The Government proposes to bring forward legislation after consultation, alongside actions by the FSA and the Bank of England, to address five key objectives.