Is An Post (Certs) Underpinned by the ECB.

[TrotterDel]

Hi all. Is An Post savings in certs underpinned like the bank guarantee by the ECB ?

 

[Lightning]

An Post certs are guaranteed by the Irish state.

They are not guaranteed by the ECB.

 

[TrotterDel]

So are the banks safer then as they are guaranteed by the state and underpinned by the ECB ?

 

[Lightning]

So are the banks safer then as they are guaranteed by the state and underpinned by the ECB ?

I would say yes, banks are safer, however slightly.

Banks have capital (however depleted), reserves (we all know this is declining) and access to the ECB (with the exception of AIB, Anglo and some others) and the ICB (although limited to an overall 35 billion).

An Post deposits do not have capital reserves, access to the ECB or ICB. An Post deposits are used by the NTMA to fund the national debt.

Have you considered putting your deposit with foreign bank?