Extension of ELG Scheme, November 2010
23.11.2010
On 17 November 2010, a statutory instrument and accompanying orders were passed which further extend the “issuance period” of the Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009 (the “ELG Scheme”) from 31 December 2010 to 30 June 2011. The extension applies to all liabilities covered under the ELG Scheme, including both short term and long term bank liabilities. European Commission State aid approval for this extension was obtained on 10 November 2010.
