Anglo Irish Bank - Why have they increased 1 yr bond to 5.75%

masonic

LGG wrote: »

so if the irish scheme couldnt pay u would still be covered by the uk one in full? its not like the passport scheme

No, the UK scheme only comes into effect for savings that aren't eligible for compensation under the Irish scheme. No funds would fit that description at present, so the UK scheme would not be called to pay out unless the UK government stepped in.

LGG_2

ok thanks.so why do they mention the uk scheme if they have nothing to do with it. its abit misleading

masonic

They do have something to do with it. If limit for the Irish scheme dropped below that of the UK's, then you would be covered by the UK scheme for the part of your funds not already covered by the Irish scheme.

LGG_2

ah right i get you. thanks alot