Dáil Éireann Debate, Thursday - 21 March 2013
71. Deputy Stephen S. Donnelly asked the Minister for Finance if a deposit lodged with Anglo Irish Bank (details supplied) will be covered by the eligible liabilities guarantee; if so, the amount of the deposit that will be covered; and if he will make a statement on the matter. [14381/13]
View answerNeither I nor the Special Liquidators are able to discuss the circumstances of individuals who had accounts with IBRC and it would not be appropriate to discuss such matters through Dáil business. However I would suggest that individual customers take up their concerns with the Special Liquidators and IBRC (in liquidation) directly. I have been advised that the Liquidator is aware of a number of customers who fall outside the eligibility criteria for the ELG Scheme due to the nature of the investment product. Unfortunately, if a customer is not eligible under the ELG scheme they will rank as an unsecured creditor in the liquidation. I am advised by the Central Bank of Ireland that certain products which were liabilities of IBRC at the time of the liquidation have a structured deposit element which is covered by the Deposit Guarantee Scheme for that element of the product. As a result the first €100,000 of any claim from these customers is covered under the DGS Scheme.
At the time that such products were offered there was no additional guarantee provided by the State. It was always the case that the ELG scheme covered only those liabilities which were entered into during the issuance window.
