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Yesterday, the European Commission (EC) authorized an emergency recapitalization worth up to 10.44 billion for Anglo Irish Bank (AIB) and 2.7 billion for Irish Nationwide Building Society (INBS) for reasons of financial stability approved for a period of six months
Today, the National Asset Management Agency (NAMA), the Irish government's "bad bank" asset acquisition programme, announced that it will acquire an initial tranche of over 1,200 individual loans to the 10 largest land and development borrowers of Allied Irish Banks Plc (AIB), Anglo Irish Bank, Bank of Ireland, Irish Nationwide Building Society, and EBS Building Society, for consideration of 8.5 billion
