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 Scheme’) to the end od 2012

There are about  €100 billion in eligible liabilities  currently covered under the ELG scheme, down from €147 billion at the end of the third quarter of last year.

See more about the History of the Bank Guarantees

Retail deposits  (On demand or fixed term) of up to €100,000 will continue to be covered under the Government’s deposit guarantee scheme which does not have an expiry date.

2 thoughts on “Extension of Irish Bank Guarantee

  1. Hi, Can you tell me what happens if I have more than 100K on deposit, is it guaranteed or not?

    • If you have over 100k in one bank in a normal deposit account (not fixed rate) – then only 100k of that is guaranteed by the state.
      Best to spread the money across 2 or more banks.

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