Anglo Irish Bank

Steve_xx

gozomark wrote: »

Steve - in that case you mean depositors in the UK banking system, not UK depositors

Yes, that's what I mean. Apologies for the lack of clarity.

joemardo1

So in the event that anglo irish should collapse eventually would all uk depositors get money back?

joe

Steve_xx

joemardo1 wrote: »

So in the event that anglo irish should collapse eventually would all uk depositors get money back?

joe

Yes.

In any case it seems unlikely that it will be allowed to fail. The Irish government looks set to take a majority stake in it with an injection of 3 billion euros.

gozomark

its not a guaranteed yes, almost

In any case it seems unlikely that it will be allowed to fail. The Irish government looks set to take a majority stake in it with an injection of 3 billion euros. - agree

soulsaver

Baldur wrote: »

It's not the case for fixed term deposits, whether Icesave or any other defaulting institution - FAQ 8 http://www.fscs.org.uk/consumer/FAQs/Deposit_claims_FAQs/

Yes and that it was/is being paid removes the need for speculation. So it's likely if it's within the limits the Irish will pay it, too.

FraudBuster

Why put your money with a bank that was run by a guy who lends himself £82 million pounds and then tries to hide it?

The chief executive and chairman of Anglo Irish Bank have resigned over the "inappropriate" failure by the bank to disclose €87m (£82m) in personal loans to the chairman, Sean FitzPatrick.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/3850748/Two-Anglo-Irish-chiefs-resign-over-inappropriate-loan.html

soulsaver

FraudBuster wrote: »

Why put your money with a bank that was run by a guy who lends himself £82 million pounds and then tries to hide it?


http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/3850748/Two-Anglo-Irish-chiefs-resign-over-inappropriate-loan.html

Don't these guys get paid enough? I'd like to know what he was doing with that loan? There is a story here....

Andrew64

Anglo Irish has been taken over by the Irish government, so it should be fairly safe now. But if the experience in the UK is anything to go by, Anglo will soon be offering a really bad savings rate.

http://www.independent.ie/breaking-news/national-news/government-to-invest-55-billion-in-three-major-banks-1582796.html

"The move will mean the effective nationalisation of Anglo Irish Bank, which has been at the centre of a loans scandal this week. The government will invest €1.5 billion, which will mean the state has 75% of the bank's voting rights."

gozomark

NR continued to offer good rates for quite some time, really until it reached its agreed ceiling on the UK deposit market, and then had to become less competitive

soulsaver

Steve_xx wrote: »

The Isle of Man is not part of the UK, nor is it a member of the EEC, but it enjoys some of the benefits of EEC membership via its UK crown dependency status. The Ise of Man ofshoots of Icesave and Kaupthing were not regulated by the FSCS, whereas Anglo Irish Bank is.

I was gonna point this out the first time it was said but thought it picky, but as its 'breeding'...: FSCS is a compensation scheme, not regulator - FSA is the regulator.
I know its probably not what was meant but for the avoidance of doubt, Anglo Irish IoM is NOT regulated by the FSA, nor covered by the UK FSCS.