Huge Increase in BoI 2 Year Term Rate - 4.50%

Aureus said:
I tend to believe the EU will not allow depositors in any member state to be burned, even if the country defaults on (or "restructures") its sovereign debt. I would say a greater risk is that our deposits will be eroded by high inflation. But I'm no expert.
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Denmark has already "burned" deposit holders...
[broken link removed]
...and indeed I think the expression "bail in" usually involves depositors (>€100k) as well as Senior Bond holders taking a haircut. This seems to be the response of regulators and governments (remember the storm that arose last year over Angela Merkel expecting bond holders to take haircuts on government debt restructures
 
Interesting article. It states "Holders of senior unsecured debt and even depositors could face losses" (my italics). It seems that senior bondholders have indeed been hit, but I haven't yet been able to find any information confirming how the depositors were treated.
 
Does anyone know if this product is still available ?

"Issue 3" was due to expire on June 30th or July 1st.

BoI had 2 links to the product on their website. One is now broken and one has now been removed. Hence, issue 3 is certainly appears closed.

Will BoI launch Issue 4 tomorrow or has this product been removed?
 
Excuse my basic question but how much could you put in for 2 year's so as the total including interest at end of 2 year's would not take you over €100,000.
 
why are you only concerned with €100k? BOI are in the ELG Scheme, which covers deposits in excess of €00k for the length of term the funds are deposited.
 
Tried to open one of these accounts to-day but they would not accept a cheque made out by my local credit union payable to Bank of Ireland. I have no current account with a bank so am excluded.
 
Bobby1 said:
why are you only concerned with €100k? BOI are in the ELG Scheme, which covers deposits in excess of €00k for the length of term the funds are deposited.
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- Yes was wondering about that - good to know.
 
2.6 The proceeds of any cheque lodged to the Account may not be withdrawn until the cheque has
cleared. The Accountholder, at the discretion of the Bank, may lodge cheques to the Account that​
are payable to third parties. The Accountholder will be liable to the Bank for any losses incurred.


Ask to speak to the Manager.
 
Hi Is this account closed again? I do not see it in the best buys. I thought it closed last May or June then opened again a few weeks ago. Has it closed again already this time? Thanks
 
It has closed again.

PTSB pay 4.91% for 2 years and 2 months. A better rate for a similar period.
 
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