Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

Yes, the same rules will apply throughout Europe when the rules are put in place. At present, Ulster Bank is a subsidiary of a bank that is regulated by the Bank of England. However, when we have a banking union the guarantees will be there and there will be a fund to guarantee them. We are unsure yet about how that will relate to the individual sovereign funds.