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.
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.