Government guarantee – ELG scheme
The Eligible Liabilities Guarantee (ELG) Scheme, which is also called the ‘Government Guarantee’, ended on 28 March 2013. The scheme protected deposits over €100,000 in covered institutions – the first €100,000 is protected under the Deposit Guarantee Scheme.
The ELG may still apply to your deposits if:
- you opened a fixed term deposit account with a covered institution before 28 March 2013
- your institution was a member of the scheme on the date the deposit was made.
In these circumstances, the protection of the ELG will remain in place until the end of the term, up to a maximum of five years. No other types of accounts are covered.
Institutions covered by the ELG scheme include:
- AIB (including previous Anglo Irish Bank deposits moved to AIB on 1 July 2011)
- Bank of Ireland
- EBS Limited (EBS became a subsidiary of AIB on 1 July 2011)
- Permanent TSB (formerly Irish Life and Permanent) – including Irish Nationwide Building Society deposits that were moved to Irish Life and Permanent on 1 July 2011.