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Dublin: 17°C Thursday 16 September 2021

Central Bank reassures IBRC customers they will be repaid

The banks said all eligible deposits under its guarantee scheme will be covered up to a limit of €100,000 per person.

Central Bank of Ireland on Dame Street, Dublin.
Central Bank of Ireland on Dame Street, Dublin.
Image: Informatique via Flickr

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.

Read: Noonan: IBRC bill brought through due to “immediate risk” to bank>

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