Finance official: ‘Unwise’ to wind up bank guarantee at end of year

IT WOULD be unwise to end the banking guarantee at the end of this year, a senior executive at the Department of Finance argued yesterday.

Head of banking supervision at the department, John Moran, was speaking at yesterday’s Irish Banking Federation (IBF) national conference.

He told delegates that he would be against removing the guarantee by the end of 2011; adding that the department is pushing Irish banks to issue more secured funding.