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Ireland increases bank bailout commitments

Alston & Bird LLP
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Ireland
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October 1 2010

On Thursday, Ireland's Finance Minister Brian Lenihan released a "Minister's Statement on Banking" announcing new commitments to troubled Irish banks

Irish financial institutions guarantee program approved

Alston & Bird LLP
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Ireland
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September 22 2010

Yesterday, the European Commission approved state guarantees for Irish credit institutions covering short-term liabilities, including commercial paper, certificates of deposit, interbank deposits and corporate deposits

Anglo Irish Bank to be split into “good bank” and “bad bank”

Alston & Bird LLP
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Ireland
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September 8 2010

Ireland's Department of Finance released a statement today announcing that it will split Anglo Irish Bank into a "Funding Bank" that will continue to operate as a regulated bank and a separate "Asset Recovery Bank" that will be wholly or partly sold or its assets run off over time

European Commission temporarily approves capital injection of up to 10.054 billion for Anglo Irish Bank

Alston & Bird LLP
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European Union, Ireland
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August 11 2010

Yesterday, the European Commission announced that it had authorized a third emergency recapitalization for the Anglo Irish Bank

EC approves Bank of Ireland state aid

Alston & Bird LLP
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European Union, Ireland
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July 19 2010

On Thursday, July 15, the European Commission (EC) approved the Bank of Ireland's restructuring plan

Anglo Irish Bank to receive additional 2 billion in state aid

Alston & Bird LLP
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Ireland
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June 1 2010

Yesterday, Minister for Finance of Ireland Brian Lenihan announced that on Friday, May 28, Anglo Irish Bank Corporation Limited received an additional 2 billion ($2.45 billion) in state aid "to support the capital position of the bank" following "additional losses resulting from the level of the discount on the first tranche of Anglo’s loans transferred to NAMA and further impairments on the remaining loan book."

Bank of Ireland announces 3.4 billion capital raise

Alston & Bird LLP
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Ireland
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April 27 2010

Yesterday, the Governor and Bank of Ireland announced a 3.421 billion tier 1 capital raise

Ireland's National Asset Management Agency provides update on acquisition of loans from five Irish banks

Alston & Bird LLP
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Ireland
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April 14 2010

Yesterday, during a speech to the Irish Parliament's Joint Committee on Finance and the Public Service, National Asset Management Agency (NAMA) Chief Executive Brendan McDonagh provided an update on NAMA's ongoing initial acquisition of over 1,200 individual land and development borrower loans (Tranche 1) from several large Irish banks, and an indication of NAMA's expected operations during the rest of 2010

Economic and Social Research Institute releases Quarterly Economic Commentary for Spring 2010

Alston & Bird LLP
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Ireland
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April 13 2010

Today, the Dublin, Ireland-based Economic and Social Research Institute (ESRI) published its Quarterly Economic Commentary for Spring 2010 (the General Assessment

Anglo Irish Bank announces biggest loss in Irish history

Alston & Bird LLP
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Ireland
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April 2 2010

On Wednesday, Anglo Irish Bank (AIB), which was nationalized in January 2009, announced a 12.7 billion net loss for the 15-month period ended December 31, 2009, the largest loss in Irish corporate history

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