The extension of the guarantee to deposits in Irish banks to the end of June 2013 is likely to be the last, according to ratings agency Fitch.
An expiry of the Eligible Liabilities Guarantee (ELG) scheme, as the bank guarantee is known, could heighten the risk of deposit flight but “we believe this risk has eased following the recapitalisation of the Irish banks in July 2011 and their deleveraging efforts,” said Fitch.
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