Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Central Bank of Ireland on Dame Street, Dublin. Informatique via Flickr
Promissory notes

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.

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>

Your Voice
Readers Comments
22
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.