Bank Guarantee Scheme Renewed

June 29 2010

The European Commission has authorised the extension of the Irish Bank Guarantee Scheme until 31 December 2010. Included in the measure is higher fees to be levied on the banks to provide an incentive for the banks to refinance themselves on the market without state support, and to limit distortions of competition.

Full details of the compensation and guarantee schemes are available on the website of the National Consumer Agency.