newseeker1
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Just checked Northern Rock Ireland website and there is no mention about HM protection anywhere....the power of AAM ?
Just checked Northern Rock Ireland website and there is no mention about HM protection anywhere....the power of AAM ?
Wrong - see above.Just checked Northern Rock Ireland website and there is no mention about HM protection anywhere....the power of AAM ?
Ditto.Thanks for the replies
Where on the Northern rock web site does it say 'the UK Treasury/Bank of England backed 100% guarantee of deposits and interest.'
So, what does this morning announcement actually mean in laymans terms?
Am i right that it means that 100% of depositors money is 100% guaranteed now by the government with no upper ceiling level even if deposit is > 100k for irish owned financials as follows:
AIB
BoI
Anglo Irish
Irish Nationwide
EBS
Permanent TSB
right...????
and that the 100k guarantee still applies to finanicals like
First Active
Halifax
Rabo (covered by Dutch banks scheme up to about €40k)
NR (100% guarantee of 100% of depositor savings even > 100k covered by UK guarantee scheme)
Thanks
andSome banks that operate in Ireland are regulated in their home country and operate here under EU rules. These banks include Danske trading as National Irish Bank, which is part of the Danish Guarantee Fund for Depositors and Investors, Northern Rock, which is currently under guarantee arrangements with the Bank of England and HM Treasury and Rabobank, which is part of the Dutch Deposit Guarantee Scheme.
The Government has decided to put in place with immediate effect a guarantee arrangement to safeguard all deposits (retail, commercial, institutional and interbank), covered bonds, senior debt and dated subordinated debt (lower tier II), with the following banks:
Allied Irish Bank, Bank of Ireland, Anglo Irish Bank, Irish Life and Permanent, Irish Nationwide Building Society and the Educational Building Society and such specific subsidiaries as may be approved by Government following consultation with the Central Bank and the Financial Regulator.
Does this also cover the BoI joint venture with UK Post Office in the UK i.e. are irish taxpayers also potentially guaranteeing existing 1.5 million UK depositors and any future deposits with UK Post Office?
So, what does this morning announcement actually mean in laymans terms?
the 100k guarantee still applies to finanicals like
First Active
Halifax
Rabo (covered by Dutch banks scheme up to about €40k)
NR (100% guarantee of 100% of depositor savings even > 100k covered by UK guarantee scheme)
Thanks
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