European Union (EU) finance ministers had agreed to protect depositors with less than 100,000 euros in a bank that is being closed down, an EU official said Tuesday.

"There was general agreement that deposits below 100,000 euros in any resolution will be sacrosanct," said Michael Noonan, finance minister of Ireland, which is holding the rotating EU presidency, at a press conference after a meeting of EU finance ministers.

Large depositors have also secured partial protection in the bankruptcy of a bank, according to EU Commissioner in charge of internal market Michel Barnier at the same press conference.

Most EU finance ministers were in favour of the view that depositors with more than 100,000 euros should enjoy a privileged status, and stand as the last to lose any funds, after senior bondholders, Barnier told reporters.

Protection of depositors has evolved into a hot issue after the failed attempt by international lenders to impose a levy of 6.7 percent on bank deposits below 100,000 euros in the bailout of Cypriot banks in March.

EU finance ministers are expected to make a final decision on the issue in June, according to Noonan.