This week, Irish Life & Permanent plc (ILP) confirmed “that it provided exceptional support to Anglo Irish Bank during September 2008 and in particular on 30th September 2008 following the introduction of the Government Guarantee Scheme” by transferring €8.2 billion to boost Anglo Irish Bank’s (AIB) deposits between March 31, 2008 and September 30, 2008, the end of AIB’s fiscal year. The Irish government nationalized AIB last month. ILP justified the transactions by stating it was the “policy objective of both the Central Bank and the Financial Regulator that Irish financial institutions would work to support each other in the face of an unprecedented threat to the stability of the Irish financial system arising from the international credit crisis.” However, with regards to these particular transactions, ILP expressed “its strong disapproval of and disappointment with some of the specific measures used to support Anglo Irish Bank during 2008 and the fact that the Board itself was not informed of the specific manner in which such support had been afforded to Anglo Irish Bank.” As a result, ILP accepted the resignation of two executives and, after initially rejecting the CEO’s resignation, accepted his resignation today.