Govt to make Bank Guarantee scheme announcement

on 26/02/2013 16:07:39

The Government is to make an announcement on the future of the Bank Guarantee scheme within the next hour.

Ministers have already signalled that the scheme will come to an end this year.

There is speculation that the guarantee, which was put in place four years ago to protect deposits and other liabilities, will be phased out.

The scheme imposes high costs on the banks which have to pay for the protection offered by the State.