Ulster Bank and First Active today confirmed that they will not be participating in th Irish government guarantee scheme. They join HBOS and IIB who also declined to join the guarantee scheme.
Ulster and First Active are part of the Royal Bank of Scotland group
The group said that following a detailed review of the options available to them, they are satisfied that the measures recently announced by the UK Government, to ensure both the liquidity and recapitalisation of banks, provides its parent The Royal Bank of Scotland Group, and consequently its retail and business customers in Ireland, with the protection and security they require during these unprecedented economic times.
