# Govt Guarantee till Sept - but is anybody else nervous about their Anglo Deposits?



## colmt (24 Mar 2010)

I know the government guarantee lasts until September - but is anybody else nervous about their deposits in Anglo Irish? Where would be the safest place to transfer them in the short term? I talking +20K.


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## cork (24 Mar 2010)

*Re: Anglo savings*

Anglo is now a state bank so It is pretty safe.

Is this a solid assumption?


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## Lightning (24 Mar 2010)

*Re: Anglo savings*

I would suggest that people do not keep more than 100,000 EUR on deposit with Anglo after September 29th 2010.

A wind down decision after the guarantee runs out cannot be out ruled.


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## theresa1 (24 Mar 2010)

*Re: Anglo savings*

After September 29th 2010 what is the difference between the state guarantee of An Post and Anglo? What I'm trying to get at -is say 200,000 euro safer in An Post than Anglo or is their no difference?


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## Squonk (24 Mar 2010)

*Re: Anglo savings*

The state will probably only guarantee €100k after September (unless a joint account where the guarantee will be doubled to €200k). For a €200k investment, you are therefore at risk of losing €100k with Anglo after September if the bank is wound down. I would suggest not having more than €100k with any one institution, but An Post would definately be a safer option than Anglo.


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## Palerider (24 Mar 2010)

*Re: Anglo savings*

Anglo is wholly owned by the Irish Government, for Squonk to make a statement that a depositor is at risk of losing e100k with Anglo after September if the Bank is wound down is alarmist, technically a depositor could fall into the role of unsecured creditor IF the Bank was wound down but that means that the Bank would have to shut it's doors overnight otherwise there would be a queue the next day to get moneys out , can anybody realistically see the Government shutting Anglo doors overnight..., can anyone realistically see this Govt hanging depositors out when it is these same depositors that make up the electorate and these same depositors that own the crippled Bank in the first place.


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## theresa1 (25 Mar 2010)

*Re: Anglo savings*

If you read between the lines from the first q and a from this article An Post has a long-standing absolute state guarantee. Anglo Irish Bank guarantee although nationalised is now and after September no different to the AIB,Bank of Ireland,INBS,EBS guarantee. This was not the impression I had from reading post's etc - the impression I had was Anglo guarantee equalled An Post.

http://www.irishtimes.com/newspaper/finance/2009/1218/1224260888632.html


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## colmt (27 Mar 2010)

*Re: Anglo savings*

Thanks for all the advice folks.


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## vendee (28 Mar 2010)

*Re: Govt Guarantee till Sept - but is anybody else nervous about their Anglo Deposits*

Does anybody know how the removal of the state guarantee in sept 2010 affects fixed term deposits that were opened prior to sept 2010 but mature after this date? Will the full guarantee remain until maturity or will it be removed on sept 1? Thanks.


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## Lightning (28 Mar 2010)

*Re: Govt Guarantee till Sept - but is anybody else nervous about their Anglo Deposits*

Term deposits up to 5 years in length opened before September 29th 2010 are 100% guaranteed until maturity. This applies to any bank that signed up to the *2009 *bank guarantee. 

Source: [broken link removed]


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## Joanne1 (2 Apr 2010)

*Re: Govt Guarantee till Sept - but is anybody else nervous about their Anglo Deposits*

I am concerned about my anglo deposit given all the attention anglo is getting recently.  My fixed account does not expire until next November.

If there was a change of government would the state guarantee remain in place or could it be removed?


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## Lightning (3 Apr 2010)

It is highly improbable that a change in government would result in a removal of the guarantee. 

Also, it may not be legally possible to remove the guarantee.


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## dewdrop (5 Apr 2010)

If the government guarantee is along the lines of the standard bank guarantee then if the government decided to terminate they would be called on for payment unless the guaranteed parties agreed to some new arrangement.


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## cass (23 Apr 2010)

General reply received by me from Dept of Finance.
" The €100,000 deposit guarantee replaced the €20,000 guarantee. It does not finish on 30 September. The Bank guarantee (unlimited guarantee for all deposits) finishes on 30 September. The €100,000 deposir guarantee will remain after 30 September."
Cass.


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