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Briefing - Financial Regulatory Group (ELG Scheme), December 2009

  • The Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009 (the “ELG Scheme”) commenced on 9 November 2009. The ELG Scheme is part of a range of measures taken by the Irish Government since September 2008 to ensure the stability of the financial system in the State, including the earlier Credit Institutions (Financial Support) Scheme 2008 (the “CIFS Scheme”). The ELG Scheme has been made under section 6 (of the Credit Institutions (Financial Support) Act 2008, the same piece of legislation that was used to introduce the CIFS Scheme. The ELG Scheme updates and amends the CIFS Scheme.
  • 22.12.2009