Deposit Guarantees

[ph4t]

I read from the "Safety of RaboDirect deposits" thread that the Dutch Central Bank guarantees the first €20k of deposits and then 90% of the next €20k. Also that the Bank of England guarantees the first €3k of deposits and then 90% of the next €46k.

Is this correct?

What guarantees does the Irish Central Bank provide?

 

[beara]

But does the Dutch Central Bank guarantee Irish deposits in Rabobank?
I think the ICB guarantee 20k.

I think a lot/few of us are about to reinvest our savings and most likely we'll be spreading them about a bit. So what are people planning doing?

 

[bacchus]

See toward the end of this

 

[ph4t]

See toward the end of this

I don't see any mention of the Irish Central Bank in that thread...

 

[ph4t]

What guarantees does the Irish Central Bank provide?

Also I read in yesterday's FT ([broken link removed]) that:

"It is not just the level of insurance that counts, but the probable trouble involved in making a claim. Customers know that, insurance or no insurance, it will be a hassle if their bank goes under: the FSCS admits that compensation claims can take more than six months to process.

Instead of more insurance, depositors need better, faster insurance. If a bank goes bust, all deposits up to the insured ceiling should be switched immediately to other banks. The US Federal Deposit Insurance Corporation aims to do this within a day; the UK scheme will not be effective until it approaches that benchmark."

Does anyone how the Irish system works in this case?

 

[bacchus]

I don't see any mention of the Irish Central Bank in that thread...

Your initial post talks about Rabo and NR (indirectly but the 100% up to €3k & 90% up to €46k gives it away)

In this context, AFAIK, guarantees are provided respectively by Dutch and UK finance services (see thread i refered above). Irish Central Bank does not provide any guarantee (open to correction).

 

[ph4t]

Irish Central Bank does not provide any guarantee (open to correction).

So if a smaller Irish bank went belly up savers would not get a cent back?

 

[ph4t]

So if a smaller Irish bank went belly up savers would not get a cent back?

Found the answers from the Financial Regulator:

http://www.itsyourmoney.ie/index.jsp?pID=145&nID=385

Deposit Protection Scheme
The maximum amount you can get under the schedule is 90% of all deposits subject to a maximum compensation payment of €20,000.

It will take 3 months for a claim to be processed.

 

[bacchus]

So if a smaller Irish bank went belly up savers would not get a cent back?

That's not what i said.

Your initial post talks about Rabo and NR (indirectly but the 100% up to €3k & 90% up to €46k gives it away)
In this context, AFAIK, guarantees are provided respectively by Dutch and UK finance services (see thread i refered above). Irish Central Bank does not provide any guarantee (open to correction).

"Irish Central Bank does not provide any guarantee (open to correction). " in set context, e.g talking about Rabo and NR Irish branches guarantee by Dutch and UK.