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When government guarantee scheme expires?

  • 18-02-2010 2:30pm
    #1
    jimmmy
    Closed Accounts Posts: 2,539 ✭✭✭


    I think the government guarantees all money invested in accounts in the 6 main Irish banks / building societies up to 100,000 euro , until some time in Sept this year I believe.
    Supposing someone has a 12 month investment bond with one of these financial institutions, due to mature say next December.... so the money cannot be accessed / withdrawn until then. Suppose there is a run on this institution in Oct or November...and the building society goes bust...will the government guarantee the funds ? The institution says verbally at the desk they would, as the bond was taken out when the govt guarantee was in place.


Comments

  • #2
    jarmstrong001
    Registered Users, Registered Users 2 Posts: 56 ✭✭jarmstrong001


    Information on the Bank Guarantee Scheme

    Most deposits will continue to be guaranteed under the existing statutory €100,000 Deposit Guarantee Scheme (the "DGS") which cover 100% of retail deposits with all credit institutions authorised in Ireland (including credit unions) up to a maximum of €100,000 per qualifying depositor per institution. The DGS does not have an end-date. Further details of this Scheme can be obtained at www.itsyourmoney.ie or the financial Regulator consumer helpline 1890 777777.
    http://www.finance.gov.ie/viewdoc.asp?DocID=5507


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