(Incidentally, I remember reading an article a few weeks ago that stated that their wasn't enough money in the compensation fund to cover 90%)
I read a similar article it's [broken link removed]
How long approx. would reimbursement take in such a situation for a company that did go out of business?
The Central Bank & Financial Services Authority of Ireland (or liquidator, where one has been appointed) is expected to pay compensation to depositors within three months of a determination by the Central Bank & Financial Services Authority of Ireland that deposits are unavailable, or of a ruling by the court (subject to the terms and conditions set out in the Regulations).
Maybe the rumours will scare some of the carpetbaggers into closing their accounts leaving a bigger slice of the cake for the rest of us?
But also reducing the value of the cake and it's slices.....?
No. The value of the cake is based on the reserves, not the deposits.
See above, Bessa, the story was false. The source Reuter's were quoting either knows much more than it is possible to verify or were making it up to weaken INBS to gain financially. At this point I believe the latter, whatever one thinks about the longer term viability of INBS as an independent entity.Oh Reuters have retracted their statement [ was it on a technicality ] but Moodys rating still stands. Which i think is far more important.
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