Irish government guarantees all bank deposits

DUBLIN, Sept 30 Tue Sep 30, 2008 7:06am BST



DUBLIN, Sept 30 (Reuters) - Ireland's government said on Tuesday it would start a guarantee arrangement to safeguard all deposits at six financial institutions in response to turmoil in the international financial markets.

The scheme, which starts immediately and expires in Sept. 2010, applies to Allied Irish Bank (ALBK.I), Bank of Ireland (BKIR.I), Anglo Irish Bank ANGL.I, Irish Life and Permanent (IPM.I), Irish Nationwide Building Society and the Educational Building Society, the government said.

"The guarantee is being provided at a charge to the institutions concerned and will be subject to specific terms and conditions so that the taxpayers' interest can be protected," it said in a statement.

(Reporting by Andras Gergely)