Friday September 18, 2020

Risk of Irish bank deposit flight has eased - Fitch

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.

4th December, 2012
2
“The Irish banks have taken their first steps to reopen the secured funding markets,” said Fitch.

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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