Banks outside bailout plan rush to reassure customers
The government guarantee does not extend to Ulster Bank, National Irish Bank (NIB) and Halifax.
Deposits in such banks, authorised by the Financial Regulator, are guaranteed up to €100,000.
Covered also by this arrangement are credit unions and Postbank, a joint venture between An Post and Fortis.
Savings held at online bank RaboDirect are not covered by the €100,000 scheme as the bank is authorised by the Dutch Central Bank, which guarantees RaboDirect deposits of up to €38,000.
There were no words of thanks from the six Irish- owned financial institutions covered under the scheme.
Spokespeople from the two largest banks, AIB and Bank of Ireland, said no statement on the issue was being made.
A RaboDirect spokes- woman said the bank did not apply to be protected under the two-year protection plan as it did not feel the need to. BOSI, the parent company of Halifax, said it would be applying for inclusion in the rescue scheme.
Chief executive at NIB Andrew Healy said: “Clearly some customers may have concerns about their deposits given the unprecedented turbulence in the international financial markets.
“National Irish Bank is part of a strong banking group, Danske Bank Group, and with its AA1 credit rating is the highest rated full-service bank in Ireland.”
The Credit Union movement said it did not have to be included in yesterday’s government announcement as credit unions do not borrow money from the wholesale market but use deposits that they have available to them from their own savers.
The Irish Bankers Federation (IBF) said customers of all deposit-taking institutions in the State can rest assured that their deposits are secure and that they enjoy the highest levels of protection.
“The IBF will be liaising with government and the regulatory authorities regarding the detail of the measures announced and the mechanics of their implementation,” it said.
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