Dáil Éireann Debate, Thursday - 19 November 2009
77 Deputy Joanna Tuffy asked the Minister for Finance if home mortgage holders are covered by the bank guarantee scheme of September 2008; if so, the number covered; and if he will make a statement on the matter. [42461/09]
View answerAs the Deputy will be aware the purpose of the bank guarantee scheme is to maintain, in the public interest, the stability of the financial system in the State by providing guarantees for deposits and other funding held by credit institutions operating in the State. In other words, money owed by the banks has been guaranteed. Home mortgages or other loans issued by the covered institutions to their customers are money owed to the banks and this has not been guaranteed.
