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THE CENTRAL BANK of Ireland has moved to reassure customers at IBRC that all eligible deposits under the Deposit Guarantee Scheme (DGS) will be repaid following the approval of emergency legislation last night to liquidate the bank.
In a statement this morning, the Central Bank said the appointment of a special liquidator to IBRC triggers scheme as well as the Eligible Liabilities Guarantee for the remaining depositors at IBRC.
“The Central Bank will arrange the repayment of duly verified and eligible deposits, up to a limit of €100,000 per person, to eligible depositors at IBRC,” it said.
Depositors do not need to take any action; the Central Bank will make payments directly by cheque where applicable. It is expected that all such eligible deposits under the DGS will be repaid over the coming weeks.
Deposit amounts of more than €100,000 are covered by the Eligible Liabilities Guarantee, administered by the National Treasury Management Agency. Further information on that scheme is available at www.ntma.ie.
IBRC customers can contact IBRC at 1800 303 632 for further information. Further information on the DGS is available at on the Central Bank website.
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Mr Noonan, i lost €300 on the 4.30 at Haydock last week. I’ll be down to your Dooradoyle clinic for my cheque. Cheers.
Depositors get nailed after 100k
Bondholders get billions
‘Nuff said.
100 % debt write off required
Can I get my tax back please ?
Let’s face it, there are no ordinary citizens with an account in this “bank”.
There never was.
It was just a slush fund for politicians, bankers and developers.
The got too much money too easily and invested it badly.
Now there’s a scramble to ensure they salvage some of their ill gotten gains.
Money and power corrupts, always has, always will.
Of course they will convince themselves they did the right thing, shame they won’t read historys version of their actions.
So a leak occurs, when a bad deal is on the horizon and they must liquidate the bank immediately? It stinks of lies, lies and more lies. This debt was not written down, but kicked down the road and paid by granchildren when due!
a write down is what should have happened, all you have to do is look at what every financial commentator is saying at least those that don’t have a vested interest and aren’t on the payroll of our Government or some form of financial institution in this state
With a reduced interest rate kicking the can down road is essentially a good thing. Inflation will reduce the amount to be repaid. In 30/40 year’s time the billions owed will be worth significantly less. The argument that we are leaving it to our grandchildren to repay is disingenuous as it is not necessarily a bad thing.
Ireland like almost every single other country in the world will never be debt free.
An adjustment which realigns Ireland from its current outlier position to a position closer to the median will reduce pressure from ECB etc and will give us some breathing room.
If the government were working on the liquidation of the bank, does this mean they were never looking on getting a deal on a better rate of payback ?
Great news for the Quinns. How can action be taken by a body that no longer exists?
Better news for the lawyers, they’ll be minting it for years to come.
Was legislated for last night.
No.
The Quinns are being pursued for the repayment of loans, with specific action being taken against them for hiding assets that either explicitly or implicitly (by way of personal guarantees) secured those loans.
Loans are effectively monetized contracts, which are tradeable instruments. Your mortgage or loan can be passed around between eligible institutions without your say so, as long as the terms and conditions don’t change. For instance, I have an MBNA credit card right now, the arrangement for which has been sold to a Spanish company called Avant. In a month or two, I will have an Avant card, without any change to that arrangement.
The new owner of the Quinn’s arrangements – either NAMA or the KPMG liquidators – will continue to pursue the winding up of the loan book, and with it the pursuit of hidden Quinn assets.
How was this information about the liquidation of Anglo leaked out .
The Garda should be involved to flush out the spy.
Thankfully I don’t think sharing information is illegal in this state. (not yet anyway)
Think you will find all deposits are covered under the Irish governments guarantee to cover all deposits in the Irish banks….not the 100k
I stand corrected.
It’s manic.
‘If you tolerate this then your children will be next’!
They are, and their kids too thanks to this shower of spineless self-serving gombeen half wits.
They’ve copper fastened the idiotic work of their predecessors, and basically nailed it to the backs of people as yet unborn.
I’m TRULY sickened and enraged by the carry on of them.
‘Will be next, will be next, will be next, will be nneexxtt’
Namawinelake has some interesting points to clarify the situation.
I would imagine that depositers at these elite banks would want more than 100,000 repayment. And they would be the sort of people who could probably get that limit changed.
have your say