A question of time for IL&P as task of offloading assets loomsANALYSIS: IRISH LIFE and Permanent (IL&P) gave a good indication of the work yet to be done to reduce the size of the banking…Thu Mar 03 2011 - 00:00
Bill proposes levy on banks to cover future costs of failuresBANKS IN Ireland will be forced to pay a levy to create a special fund to cover the future costs of failed banks, under legislation…Tue Mar 01 2011 - 00:00
Bill aims to ensure taxpayer will not bear the cost of future bank failureANALYSIS: Banks could face fines of up to €10bn if they fail to plan how they would resolve problemsTue Mar 01 2011 - 00:00
No haircut on AIB Montevetro loanTHE NATIONAL Asset Management Agency imposed no haircut on AIB’s loan on the Montevetro building in Dublin as the loan was provided…Tue Mar 01 2011 - 00:00
EBS bidder considers flotation valueUS BILLIONAIRE Wilbur Ross, an investor in the Cardinal consortium which is in pole position to buy EBS Building Society, said…Tue Mar 01 2011 - 00:00
Bank shares rise after High Court approves transferSHARES IN the three publicly quoted banks rose after the High Court approved the sale of €12 billion in deposits out of Anglo…Sat Feb 26 2011 - 00:00
Choosing consortium would send message that Ireland is open for business with foreign investorsTHE GOVERNMENT sent the private equity firms packing when they arrived at the height of the banking crisis in 2008 looking to…Sat Feb 26 2011 - 00:00
New Bill to deal with troubled institutionsTHE DEPARTMENT of Finance will publish legislation on Monday setting out a so-called special resolution regime to deal with distressed…Sat Feb 26 2011 - 00:00
US-backed Cardinal preferred as EBS bidderA PRIVATE equity consortium led by Dublin firm Cardinal Capital Group has been chosen as the preferred bidder for the State-owned…Sat Feb 26 2011 - 00:00
€12.2bn transplants step one of major surgeryANALYSIS: CUT OUT the good from the bad and give it to help others.Fri Feb 25 2011 - 00:00
Ulster Bank posts £761m loss as bad debts take tollULSTER BANK took a bad debt charge of £3.8 billion (€4Fri Feb 25 2011 - 00:00
Spike in overnight ECB lending explained by bank deposit auctionANALYSIS: Short-term funding was needed to pave the way for a quick sale of Anglo and Nationwide depositsSat Feb 19 2011 - 00:00
Banks using guarantee to access ECB loansIRISH BANKS are issuing bonds to themselves under the Government guarantee to borrow cheaply from the European Central Bank and…Thu Feb 17 2011 - 00:00
Developers borrow €420m from Nama to finish projectsPROPERTY DEVELOPERS have drawn €420 million from the National Asset Management Agency (Nama) out of €590 million set aside since…Wed Feb 16 2011 - 00:00
BoI chief praised Cowen after private dinnerANALYSIS : Bertie Ahern and IDA chief also wrote to then minister to raise fears over legislative delaysSat Feb 12 2011 - 00:00
EU backing needed to 'telescope' bailoutRECAPITALISATION: EU APPROVAL was required to “telescope” the EU-IMF bailout of the banks and the Central Bank’s next set of…Thu Feb 10 2011 - 00:00
High Court performs last rites on two failed lendersANALYSIS: Anglo and Nationwide will soon be history. The same cannot be said for the cost of their failureWed Feb 09 2011 - 00:00
Court to rule on McKillen caseThe Supreme Court will proceed to rule on the outstanding constitutional and fair procedure issues raised in the case taken by…Wed Feb 09 2011 - 00:00
Auction to transfer deposits expected to conclude in weeksWHAT HAPPENS NEXT: THE AUCTION to transfer deposits and “corresponding assets” out of Anglo Irish Bank and Irish Nationwide …Wed Feb 09 2011 - 00:00
Reports identify failures in AIB but praise changes introduced in 2009ALLIED IRISH Bank, which is almost fully nationalised, is considering two reports by outside consultants into the effectiveness…Sat Feb 05 2011 - 00:00
Anglo asks ex-directors for details on benefitsANGLO IRISH Bank has sought details of benefits and perks given to former directors of the bank, including performance bonuses…Sat Feb 05 2011 - 00:00
Bank lobbied to limit scope of Nama 2AIB EXPRESSED serious reservations with the Department of Finance about the scope of what is known as Nama 2 – the transfer of…Sat Feb 05 2011 - 00:00
Victory over Nama may prove PyrrhicThe Supreme Court has given Nama a rap on the knuckles but other issues were kicked to touchFri Feb 04 2011 - 00:00
Permanent TSB to cut 280 jobsStaff at Permanent TSB are being informed today about the details of planned job cuts at the country’s largest mortgage lender…Fri Feb 04 2011 - 00:00
Permanent TSB to shed up to 350 jobsPERMANENT TSB, the country’s largest mortgage lender, is cutting up to 350 jobs from its workforce of 1,800 in response to a …Fri Feb 04 2011 - 00:00
Department of Finance had 'no objection' to bonuses for call centre staff at AIBTHE DEPARTMENT of Finance approved bonus payments to call centre staff at Allied Irish Banks, which is now almost fully nationalised…Wed Feb 02 2011 - 00:00
Department seeks EU approval for Anglo-Nationwide merger planA JOINT restructuring plan for Anglo Irish Bank and Irish Nationwide Building Society was being prepared for submission to the…Tue Feb 01 2011 - 00:00
Quinlan sale of hotel stake not yet agreedPROPERTY INVESTOR Derek Quinlan has not yet agreed to sell his 35 per cent stake in the Maybourne group, the luxury five-star…Sat Jan 29 2011 - 00:00
AIB sought to cut number of Nama-bound loansALLIED IRISH Banks lobbied the Department of Finance to reduce the number of loans linked to land and development borrowings …Sat Jan 29 2011 - 00:00
AIB told not to infer approval of Minister over staff bonusesTHE DEPARTMENT of Finance told AIB last July that if it proceeded to pay 2008 bonuses to staff in its capital markets division…Fri Jan 28 2011 - 00:00
AIB vets executives as job losses loomAIB, WHICH has been effectively nationalised, is vetting its most senior executives to determine whether they have a role on …Fri Jan 28 2011 - 00:00
McKillen will not sell stake in Maybourne Hotel GroupPROPERTY INVESTOR Paddy McKillen has ruled out selling his 37 per cent interest in the Maybourne Hotel Group of five-star London…Fri Jan 28 2011 - 00:00
Cowen can refuse to name bank advisersTAOISEACH BRIAN Cowen does not officially have to disclose whom he telephoned for advice on the night of the talks leading to…Fri Jan 28 2011 - 00:00
Anglo and INBS finalise run-downsANGLO IRISH Bank and Irish Nationwide are finalising a joint plan for the merger and run-down of the lenders over time as their…Fri Jan 28 2011 - 00:00
McKillen considering options on Maybourne hotelsBUSINESSMAN PADDY Mc Killen, a 37 per cent shareholder in the Maybourne Hotel Group, is considering his options and consulting…Wed Jan 26 2011 - 00:00
Review of Quinn Group well advancedA FORENSIC review of internal financial results and guarantees within the Quinn Group carried out for bondholders and lenders…Wed Jan 26 2011 - 00:00
Bank losses could be 'larger' than expectedLOAN LOSSES at the banks may be “a little larger” than was expected under the new regulator’s first round of stress tests last…Wed Jan 26 2011 - 00:00
Nama to vet board appointmentsTHE NATIONAL Asset Management Agency will insist that developers appoint non-executive directors to the boards of their companies…Sat Jan 22 2011 - 00:00
Solicitor sued by Bank of Ireland asked lender to refer legal cases to himSOLICITOR AND property investor Brian O’Donnell asked Bank of Ireland to refer legal cases to his law practice which would help…Sat Jan 22 2011 - 00:00
Revenue to name defaulters under new measuresTHE REVENUE Commissioners will be able to name tax defaulters even if they have not paid or agreed a settlement under measures…Sat Jan 22 2011 - 00:00
Developer O'Flynn rejects Nama guarantee commentsCORK PROPERTY developer Michael O’Flynn has written to the Public Accounts Committee and the National Asset Management Agency…Fri Jan 21 2011 - 00:00
Couple sued by Bank of Ireland owe €886mSOLICITOR AND property investor Brian O’Donnell and his wife owe €457 million to investment bank Morgan Stanley and €235 million…Fri Jan 21 2011 - 00:00
Call for bonus debt plan to bolster banksBANKING CRISES could be averted by paying bonuses to bank staff and dividends to shareholders through a form of debt that converts…Fri Jan 21 2011 - 00:00
Accountants defend continued role of Seán Quinn and family in businessTHE QUINN Group has defended the continued involvement of businessman Seán Quinn in the conglomerate, in private correspondence…Thu Jan 20 2011 - 00:00
Cardinal increases bid for EBS to over €600mA PRIVATE equity consortium led by Dublin firm Cardinal has increased the upfront cash injection it is willing to invest in EBS…Tue Jan 18 2011 - 00:00
Anglo pair doorstepped Gray knowing he had Cowen's earBACKGROUND : Bankers told Gray that Anglo was experiencing ‘extremely severe liquidity difficulties’Fri Jan 14 2011 - 00:00
Private consortium meets regulators before submitting final bid for EBSTHE CARDINAL-LED private equity consortium, one of two final bidders for EBS building society, met regulatory staff at the Central…Thu Jan 13 2011 - 00:00
'Seán is very controlling - it comes with the territory'DAVID DRUMM INTERVIEW : “SEÁN WAS on the receiving end of nothing – he was in control of everything.”Tue Jan 11 2011 - 00:00
