Are My Savings in Ireland Guaranteed? (Updated Dec 4th 2011 ) A potted history of Irish Banking Guarantees First of all we had the Irish Deposit Guarantee Scheme (DGS), which covered the first €20,000 per person in all the financial institutions that are authorised by the Irish Financial Services Regulatory Authority to operate in Ireland. […]
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Deposit Guarantees
Northern Rock Ireland to be Sold to PTSB
Permanent TSB has entered into an agreement to take over the accounts of Northern Rock Ireland (NRI) Northern Rock Ireland savings accounts are currently about €650 million – representing less than 5pc of Northern Rock’s total retail deposits . The sale to Permanent TSBb is expected to be completed by the end of the year […]
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Extension of Irish Bank Guarantee
THE Irish Government Eligible Liabilities bank guarantee was extended to the end of December 2012 in 2011. Approval from the EU commission was only in place up to the end of June 2012 – but on 6th June 2012 – the EU Commission granted state aid approval for the continuation of the Scheme, (the ‘ELG […]
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Irish fear for the safety of their deposits in banks.
Foreign-owned banks with operations in Ireland have reported large cash inflows in recent weeks – as AIB also reported large amounts of withdrawals Roel van Veggel, the head of RaboDirect said that the bank saw substantial increases in call volumes, new account openings and money inflow. Deposits in Rabodirect are guaranteed by the Dutch Central […]
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UK Savings Guarantee to Rise to €100,000
UK deposits are currently guaranteed up to £50,000 if a bank or building society goes bust – but this amount will be raised to the Sterling equivalent of €100,000 Euro from January 2011 The UK Financial Services Compensation Scheme has announced that the protection limit for savers will increase from £50,000 to the sterling equivalent […]
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