Written answers
Tuesday, 3 February 2009
Department of Finance
Financial Institutions Support Scheme
9:00 pm
Joe Costello (Dublin Central, Labour)
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Question 205: To ask the Minister for Finance if, in relation to the credit institutions (financial support) scheme, he will provide a full listing of all the institutions being protected under the scheme; the date, in respect of each institution, on which it was added to the scheme; if he will provide a full listing in respect of each institution of associated Irish or foreign based subsidiaries or related branches who are or will be protected through an Irish based branch or subsidiary; the latest estimate of the total amount of deposits being protected; the estimated breakdown of the total deposit figure between deposits here and foreign deposits; and if he will make a statement on the matter. [3461/09]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Those institutions that have executed a guarantee acceptance deed and have then been designated in an order by the Minister for Finance are "covered institutions". The list of "covered institutions", including their subsidiaries is:
| Covered Institution | Subsidiary | Date added to the Scheme |
| Allied Irish Bank plc | AIB Mortgage Bank | 24 October 2008 |
| AIB Group (UK) plc | ||
| AIB Group (UK) plc | ||
| AIB North America Inc. | ||
| Anglo Irish Bank Corporation Ltd. | Anglo Irish Bank Corporation (International) Ltd. | 24 October 2008 |
| The Governor and Company of the Bank of Ireland | Bank of Ireland | 24 October 2008 |
| Mortgage Bank | ||
| ICS Building Society | ||
| Bank of Ireland (I.O.M.) Limited | ||
| EBS Building Society | EBS Mortgage Finance | 24 October 2008 |
| 4 December 2008 | ||
| Irish Life and Permanent plc | Irish Permanent (I.O.M.) Limited | 24 October 2008 |
| Irish Nationwide Building Society | Irish Nationwide (I.O.M.) Limited | 24 October 2008 |
| Postbank Ireland Limited | 5 November 2008 |
Most of the institutions joined the Scheme on 24th October 2008, with the exceptions of Postbank Ireland Ltd which was added on 5th November 2008, and EBS Mortgage Finance added on 4th December 2008.
I assume the Deputy when referring to 'total deposits' and 'breakdown of total deposits' means the total covered liabilities guaranteed by the Government. Under the terms of the Scheme covered liabilities include: senior unsecured debt; asset covered securities; dated subordinated debt (Lower Tier 2); along with deposits (retail, corporate, and interbank). The estimated total amount of covered liabilities under the scheme for the final quarter of 2008 (an average of the end-month liabilities for October, November and December) amounts to €376bn. The deposits covered by the Deposit Protection Scheme amounts to €90bn which means that the total amount covered by both schemes is €466bn.
The Deputy should be aware that all covered liabilities are treated equally under the terms of the Government's Bank Guarantee Scheme with no distinction made between those originating from at home or abroad.
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