NS&I preparing to repay hundreds of millions of pounds over missing savings

Government-backed bank in talks about recompensing about 37,000 people whose money was misplaced

UK politics live – latest updates

Business live – latest updates

National Savings and Investments is preparing to repay hundreds of millions of pounds to its customers over missing savings, in what is expected to be the single biggest payout in the bank’s 160-year history.

The government-backed savings institution is in discussions with the Treasury to recompense about 37,000 people whose money has been misplaced due to historical failings.