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Banks: Ireland

Volume 492: debated on Tuesday 12 May 2009

To ask the Chancellor of the Exchequer if he will insure monies invested by British nationals in (a) the Bank of Ireland and (b) Anglo-Irish Bank. (270351)

Deposits with Bank of Ireland and Anglo Irish Bank are subject to the Irish Deposit Guarantee scheme.

To ask the Chancellor of the Exchequer whether arrangements for the protection of deposits made in UK banks apply to UK holders of deposits in banks in the Republic of Ireland; and if he will make a statement. (270940)

The EC Deposit-guarantee Schemes Directive (94/19/EC) sets the minimum terms on which depositors are protected throughout the European Union and European economic area. Some member states have introduced higher limits.

Arrangements for depositors in Irish banks are a matter for the Irish Government.

Deposits in Irish banks are covered up to a level of €100,000 by the Irish deposit guarantee scheme, under the terms of the Deposit Guarantee Schemes Directive. In addition to the protection of the Irish Deposit Guarantee Scheme, the Irish Government announced on 30 September 2008 that it would guarantee certain deposits with Irish banks, including all retail deposits, until 29 September 2010.

To ask the Chancellor of the Exchequer whether his Department has had discussions with representatives of the Government of the Republic of Ireland on arrangements to protect deposits made by UK citizens with banks in the Republic of Ireland; and if he will make a statement. (271418)

Treasury Ministers and officials have discussions with a wide variety of organisations and international partners. As was the case with previous Administrations, it is not the Government’s practice to provide details of all such discussions.