Minister for Finance Brian Lenihan has told the Dáil that he has applied to have the bank guarantee scheme extended to 31 December 2010.
The scheme is due to expire on 29 September 2010.
Minister Lenihan said the opinion of the European Commission on the matter will be known by the end of the month.
He said the matter can be dealt with using a statutory instrument, which will be brought before the House.
Mr Lenihan said his figures suggest that some €29bn of longer-term bank debt is due to be refinanced by the end of September.
He said any extension of the guarantee would not apply to subordinated debt.
