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Article 6 requires that the "coverage level" is €100,000 "in the event of deposits being unavailable". It also requires greater coverage for 3 months to 12 months for residential transactions, social purposes or insurance and compensation money. This directive updates the previous directive 94/19/EC of 30 May 1994 on deposit-guarantee schemes ...
The Deposit Guarantee Scheme (DGS) The Deposit Guarantee Scheme (DGS) protects depositors in the event of a bank, building society or credit union authorised by the Central Bank of Ireland being unable to repay deposits. Deposits up to EUR 100,000 per person per institution are protected.
The ELG Scheme provides for an unconditional and irrevocable State guarantee for certain eligible liabilities (including deposits over the €100,000 limit of the Deposit Guarantee Scheme) of up to five years in maturity incurred by participating institutions from the date they joined the scheme until the closure of the Scheme on certain terms ...
The National Asset Management Agency Bill, in its current format, applies to the six financial institutions which were covered by the Irish government's deposit guarantee scheme. Those institutions were Bank of Ireland, Allied Irish Banks, Anglo Irish Bank, EBS, Permanent TSB and Irish Nationwide.
Deposit Guarantee Scheme Directive (DGSD; Directive 2014/49/EU of 16 April 2014), which regulates deposit insurance in case of a bank's inability to pay its debts. [ 29 ] [ 30 ] Bank Recovery and Resolution Directive (BRRD; Directive 2014/59/EU of 15 May 2014), which establishes a framework for the recovery and resolution of credit institutions ...
In its annual report, which was published just three months before the government was forced to unconditionally guarantee the deposits of the Irish-owned banks, the Central Bank said: "The banks have negligible exposure to the sub-prime sector and they remain relatively healthy by the standard measures of capital, profitability and asset quality.
The compensation limits were last revised in 2010 to bring them into line with the EU (and EEA) deposit guarantee requirements under the European Union directive 94/19/E. [6] On 31 August 2012 UK authorised banks, building societies and credit unions were required to display information about FSCS protection in branch and online, this included ...
For deposit account SSIAs, banks paid interest on top of the government bonus and principal accumulated. Equity SSIAs were also available to investors seeking higher returns than the state-guaranteed minimum of 25%. [3] The scheme, which was restricted to those over eighteen, was most popular among middle-income earners. [4]