How safe are our deposits? - state guarantee

B

Bronte

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Due to the times we live in I'd like to know the state guarantees on the following:

A) How safe is my deposit of 100K with an Irish bank?

B)How safe is my deposit of 100K with an Irish bank owned by a British bank?

C) How safe is my deposit of 100K with an Irish bank if I also have a mortgage with them of 200K

D) How safe is my deposit of 100K with an Irish bank owned by a British bank if I also have a mortgage with them of 200K?

E) Does it make a difference if the accounts are joint accounts?

I haven't been able to go through all the replies on N. Rock so if the answer is in there apologies in advance
 
It is interesting to note that FDIC in the States covers 100% of the deposit's value of the account up to $100,000 per account (not per person).
 
C) is an interesting question. Of course, one could question the logic of having a large deposit and a large mortgage at the same time.

But would there be what the legal eagles call right of offset? I don't think so, but I am not an expert.
 
As far as I know the only state guaranteed savings and investments are with An Post i.e. saving bonds, saving certificates, prize bonds, national instalment savings. During the 80's, these were very attractive, e.g. saving certificates 61% over 5 years tax free, national instalment savings offering 70% etc. Money flowed into them, why not, excellent rates and state guaranteed. Then, as the Government's need for money declined, the rates came down and An Post products became far less attractive. Savers looked elsewhere, credit unions and banks like Northern Rock offered better rates and savers, young and old, diverted into these institutions. It is interesting to note the large number of middle aged and older savers now queuing up for their money at Northern Rock! In the 80's these people would have been the An Post savers. But is the circle now turning? All very well to have life savings in a bank but it is now dawning on these people is it worth it, higher interest versus state guarantee? Many of these savers are going through a lot of worry now, having sleepless nights worried how safe is their money in the bank? How safe is their money in the Credit Union? Is it a co-incidence An Post products have recently increased their interest rates? Will savers return to them? Only time will tell.
 
Oldtimer I was fairly young but I think it was the 11th issue that paid the 61%. Unfortunely at that time I had no money except for about 20 IEP in an post savings book. If the post office increases it's rates I'll be putting my savings there and removing it from the banks. I believe N. Rock is the safest place now with it's Bank of England guarantee which no other bank has.

Harchibald - I was using round figures for simplicity. Lots of people have say savings of 20k while also having a mortgage. I know the banks will take everything you have if you default on the mortgage, but I was wondering what it's like the other way around. If the bank went bust, could it sell it's assets - my debt the mortgage - and could I lose the savings. Plus due to N. Rock it had never occured to me before to query which rules apply to which bank depending on the ultimate ownership or location of the bank. I thought my question would have a straightforward answer but maybe nobody knows all the rules.
 
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