Deposits Guaranteed

Intrade Member Deposits Guaranteed by Governments Guarantee Scheme:

On or about the 30 September 2008 the Irish Government put in place a guarantee arrangement to safeguard all deposits at major Irish banks including Anglo Irish Bank.

The guarantee is for 2 years.

More information on the guarantee is available here:
http://www.centralbank.ie/nws_article.asp?ID=401
http://www.itsyourmoney.ie/index.jsp?1nID=93&2nID=100&nID=153&aID=620
http://www.finance.gov.ie/documents/publications/statutoryinstruments/2008/si4112008.pdf

In addition, National Irish Bank's parent, Danske, is covered by a Danish Government Guarantee Scheme.

Therefore all member deposits are now guaranteed by the Irish and Danish governments.

Member Funds Segregated: All member funds are held in specific and designated member segregated accounts with National Irish Bank (a subsidiary of Danske Bank), and Anglo Irish Bank. These accounts are separate and distinct from Company funds.

Individual Member Segregated Bank Accounts: To provide additional transparency any member can request a specific account be established in their own name within the suite of segregated member funds accounts. The Company incurs a cost to provide this service and passes on the cost only to members availing of this service.

This service enables you to receive on an individual Bank Statement in from a bank guaranteed by the Irish or Danish governments your balance.

More information on Irish Public Finances is available here:
http://www.slideshare.net/ollie100/irish-public-finance-presentation

But what about Ireland itself?
Well Ireland's 'AAA' credit rating was affirmed on Jan 20th 2009 and said the outlook for Ireland's ratings was 'stable' while Standard & Poor's said it was reviewing the triple-A rating on Ireland, and Moody's has also indicated it is considering the triple-A sovereign rating. Ireland's GDP grew by 6pc in 2007, but contracted by over 1pc in 2008, and a further circa 5pc decline this year is likely.

Any questions / comments feel free to post below or email me on john.delaney@intrade.com