57 Deputy Eoghan Murphy asked the Minister for Finance if his attention has been drawn to the fact that an Irish credit union, the EBS, was offering its customers a protected growth bond, which in a letter guaranteed the customer would get their full investment returned after four years plus a 14% fixed return, however in the terms and condition at the bottom of the letter it stated that Irish Life and Permanent would not make up any shortfall, so in fact the EBS might not be in a position to return a person’s full original investment; and if he will make a statement on the matter. [36766/11]

Summary

57 Deputy Eoghan Murphy asked the Minister for Finance if his attention has been drawn to the fact that an Irish credit union, the EBS, was offering its customers a protected growth bond, which in a letter guaranteed the customer would get their full investment returned after four years plus a 14% fixed return, however in the terms and condition at the bottom of the letter it stated that Irish Life and Permanent would not make up any shortfall, so in fact the EBS might not be in a position to return a person’s full original investment; and if he will make a statement on the matter. [36766/11]

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• Banking Sector Regulation

  xml · EN · 24 November 2011

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