Ulster Bank lost €858 million in deposits after bank guarantee

Ulster Bank lost the equivalent of £732 million (€858 million) of deposits in the four days after Ireland’s government guaranteed the country’s banks in September 2008, according to a Financial Services Authority report.

12th December, 2011

Ulster Bank lost the equivalent of £732 million (€858 million) of deposits in the four days after Ireland’s government guaranteed the country’s banks in September 2008, according to a Financial Services Authority report.

“The Irish government’s announcement that it would guarantee the deposits of Irish banks but not banks such as RBS’s subsidiary Ulster Bank further intensified pressure on RBS’s liquidity position in the period that followed the failure of Lehman Brothers,”...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Newsround: What Thursday’s papers say