Business Account Guarantees

EOC74

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Does anybody have any information on these? Are they guranteed to €20K or more?

Thanks
 
In most cases they are covered. here is what the FR website says:

Deposits not eligible for cover include:
  • interbank deposits;
  • certificates of deposit;
  • items which make up the own funds or capital of the institution;
  • deposits in respect of which a money laundering offence has been committed;
  • deposits by a company connected to the credit institution;
  • deposits by a person who had responsibility for or who profited from the failure of the credit institution;
  • deposits by the directors, secretary, chief executive or their close families;
  • deposits by financial institutions (as defined in the European Communities Second Banking Co-Ordination Directive);
  • deposits by insurance companies;
  • deposits by the Governments or municipal, local, regional or provincial authorities of any State;
  • deposits by collective investment schemes;
  • deposits by pension and retirement funds;
  • debt securities; and
  • deposits by large companies (as defined under companies legislation).
 
In most cases they are covered. here is what the FR website says:

Deposits not eligible for cover include:
  • interbank deposits;
  • certificates of deposit;
  • items which make up the own funds or capital of the institution;
  • deposits in respect of which a money laundering offence has been committed;
  • deposits by a company connected to the credit institution;
  • deposits by a person who had responsibility for or who profited from the failure of the credit institution;
  • deposits by the directors, secretary, chief executive or their close families;
  • deposits by financial institutions (as defined in the European Communities Second Banking Co-Ordination Directive);
  • deposits by insurance companies;
  • deposits by the Governments or municipal, local, regional or provincial authorities of any State;
  • deposits by collective investment schemes;
  • deposits by pension and retirement funds;
  • debt securities; and
  • deposits by large companies (as defined under companies legislation).

Thanks for that. Im assuming 20K is the limit too. I wonder how big companies deal with this.
 
Just to clarify the Irish deposit protection limit is 90% of amounts up to €22,222 hence the maximum amount insured is €20K.

Indeed. So were better off moving the whole lot. What a farce. Im not one to usually panic but how can we trust the politicians/banks who lied to us about the "soft landing" etc.
 
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