Central Bank headquarters on North Wall Quay Image: Rollingnews.ie Central Bank headquarters on North Wall Quay Image: Rollingnews.ie THE CENTRAL BANK has issued an invitation to tender worth an estimated €4.5 million for a “business partner” to provide support if a bank goes bust.
The successful tenderer will also need to provide ongoing testing of data provided by the banks to give their feedback on the banks’ compliance with their DGS obligations. The crises that followed plunged the Irish economy into turmoil in subsequent months and years but, over a decade on, that €100,000 guarantee on deposits remains in place.
The current legislation says that depositors must be given their money within 15 days, but the Central Bank said to maintain “confidence and alleviate hardship”, the aim is to pay depositors within seven working days.