What the bailout is costing Irish taxpayers
Anglo – €29.3 billion (including €22.9 already committed by Government) – could go to €34.3bn in severe worst-case
AIB – up to €6.5 billion (including €3.5 billion already invested by Government)
BoI – €3.5 billion (doesn't need any more capital from Government)
INBS – €5.4 billion (including €2.7 billion already committed by Government)
EBS – €350 million (further requirement for €440 million and possibly more which is expected to come from its new buyer)
Irish Life & Permanent – doesn't need any capital; didn't engage in property development lending
Total: €45 billion – could go to €50 billion in Anglo severe stress case
Of this, some €35 billion of this is debt and is unlikely to be recovered - the €6.5 billion to be invested into AIB and €3.5 billion already invested into Bank of Ireland is regarded as an investment by the National Pension Reserve Fund, the €24 billion sovereign wealth fund held by the Government. The State is likely to make this €10 billion back and could make a profit by selling down the shares over time.
The figures relate to the State's investments in the banks. AIB's capital requirement is €10.4 billion of which it has raised €2.5 billion from the sale of its stake in Poland's Bank Zachodni WBK, leaving €7.9 billion to raise – some of that will come from the sale of the 22.5 per cent stake in US bank M&T, the sale of its UK business and further (possible) investment from existing shareholders and institutional investors. The Government will underwrite the sale of new shares.
