Bank guarantee scheme to be extended

THE bank guarantee scheme is expected to be extended by the European Commission to the end of the year.

The Department of Finance also confirmed that the Central Bank has received €808 million in fees from the financial institutions during the scheme.

The commission has already approved the extension of an aid scheme for Austrian credit institutions and a Latvian bank guarantee scheme to the end of the year. It has also extended bank support schemes in Sweden and Germany and a recap scheme in Hungary.