AIB's British deposits to lose Irish guarantee

Deposits at Allied Irish Bank’s British unit made after August 17th will no longer be covered by the Irish bank guarantee scheme, finance minister Michael Noonan said in a statement.

17th July, 2012

Deposits at Allied Irish Bank’s British unit made after August 17th will no longer be covered by the Irish (Eligible Liabilities Guarantee) Scheme 2009, finance minister Michael Noonan said in a statement.

Irish banks are seeking to reduce the amount covered by the guarantee scheme, in order to cut the amount they pay in fees for the guarantee, said a Bloomberg News report.

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