'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
NTMA 'frustrated' by role of Europe in EBS saleTHE EUROPEAN Commission’s involvement in the sale of the EBS building society was “extremely frustrating”, according to the chief…Sat Jan 08 2011 - 00:00
Up to €60bn more in loans 'need to be taken from banks'A FURTHER €50 billion to €60 billion in loans need to be removed from the banks and sold over time to reduce the size of the …Sat Jan 08 2011 - 00:00
Radical changes in store to shock banking system back into lifeAfter two years of painfully slow moves, 2011 will see the biggest changes in Irish banks since the 1960s.Fri Dec 31 2010 - 00:00
Bank plan offers hope after a year of carnageIt took the involvement of the EU, ECB and IMF to draw what may be the final line under the country’s banking crisis.Fri Dec 31 2010 - 00:00
High Court approves AIB bailoutTHE GOVERNMENT has secured a High Court order allowing it to inject a further €3Fri Dec 24 2010 - 00:00
State injects further €6.4bn into Anglo IrishTHE GOVERNMENT has bailed out Anglo Irish Bank with a further €6Thu Dec 23 2010 - 00:00
Lenihan preparing to go to High Court over AIB bailoutTHE GOVERNMENT was last night taking the first steps to effectively nationalise Allied Irish Banks and take a fourth institution…Thu Dec 23 2010 - 00:00
Developer has car seized for second timePROPERTY DEVELOPER Paddy Kelly has again lost possession of a 7-series BMW to the Dublin City Sheriff arising from a €6 million…Wed Dec 22 2010 - 00:00
Government takes first step to nationalise troubled AIBThe Government has taken the first steps to effectively nationalise Allied Irish Banks and take a fourth bank into State control…Wed Dec 22 2010 - 00:00
Former IL&P chief not asked about Anglo cashFORMER IRISH Life & Permanent (IL&P) chief executive Denis Casey was not interviewed in its internal inquiry into the…Mon Dec 20 2010 - 00:00
Report of accountants' role in Anglo to be publishedTHE FINDINGS of the first report by the special investigator examining the role played by four chartered accountants, including…Sat Dec 18 2010 - 00:00
Banking-crisis survivor Bowler outlasted rivals by a yearThe ILP chairman defended her decision to stay on, saying her ‘moral compass’ told her she should, and that shareholders agreed…Thu Dec 16 2010 - 00:00
IL&P's Bowler to retire when successor is appointedIRISH LIFE and Permanent chairman Gillian Bowler has said she will retire next year following the appointment of a successorThu Dec 16 2010 - 00:00
EBS to get extra €525m to meet capital targetTHE GOVERNMENT has injected a further €525 million in cash into the EBS building society to meet the capital target set by the…Thu Dec 16 2010 - 00:00
Draconian powers to help Minister fix failed systemANALYSIS: Bill to let Government finally consign Anglo and INBS to scrapheap amid sweeping reformsWed Dec 15 2010 - 00:00
State will acquire sweeping powers in banking BillTHE GOVERNMENT will have far-reaching powers to restructure the banking system, including the ability to force losses on to subordinated…Wed Dec 15 2010 - 00:00
Bill will change pension fund rules on AIB outlayINVESTMENT REGULATIONS: ALLIED IRISH Banks can be recapitalised as a non-listed financial institution using cash from the National…Wed Dec 15 2010 - 00:00
Bowler to step down from IL&PIrish Life and Permanent chairman Gillian Bowler has announced that she will retire next year following the appointment of a …Wed Dec 15 2010 - 00:00
AIB says staff bonuses not way bank wants to conduct itselfTHE EXECUTIVE chairman of AIB has told staff in an e-mail that the payment of deferred bonuses “reflects the past and is not …Fri Dec 10 2010 - 00:00
Trade buyer more likely for Quinn InsuranceTHE DEADLINE for second-round bids for Quinn Insurance passed yesterday as the likelihood of a sale to a trade buyer grows amid…Thu Dec 09 2010 - 00:00
Irish banks repaid bondholders €70bnIRISH BANKS repaid €68.8 billion to senior bondholders and €1Thu Dec 09 2010 - 00:00
Bill on bondholders sharing losses to be debated next weekBANKS: LEGISLATION TO pass further bank losses on to the subordinated bondholders will go before the Oireachtas next week, Minister…Wed Dec 08 2010 - 00:00
Monetary authorities seek new ways to fund banksTHE MONETARY authorities are working on additional ways of funding the Irish banks beyond drawing discounted loans from the European…Tue Dec 07 2010 - 00:00
Flowers may buy stake in bankTHE HEAD of US buyout firm JC Flowers, which invests in distressed financial institutions, has said he would like to invest in…Tue Dec 07 2010 - 00:00
Bailout injection to help banks sell off €20bn of non-core assetsTHE €2 billion earmarked in the upfront bailout of the banks to help them sell off parts of their businesses should allow them…Mon Dec 06 2010 - 00:00
NTMA chief warned Lenihan not to let Nama distort pay rateNATIONAL TREASURY Management Agency chief executive Michael Somers warned the Minister for Finance Brian Lenihan in October 2009…Mon Dec 06 2010 - 00:00
Trichet says €85bn can preserve State's stabilityTHE PRESIDENT of the European Central Bank Jean-Claude Trichet says he is confident that the Irish people can cope with this …Fri Dec 03 2010 - 00:00
Higher capital targets push back EBS deadlineTHE DEADLINE for final bids for the Educational Building Society has been pushed out to next year from December 22nd after higher…Thu Dec 02 2010 - 00:00
Crucial details of how the banks can survive on their own not in planANALYSIS: The memorandum backing up the EU and IMF plan is short on detail but long on sweeping statements about change and …Thu Dec 02 2010 - 00:00
Plan aims to bring loans close to level of depositsBANKING: AMBITIOUS TARGETS aimed at bringing loans closer in line with deposits at each of the banks will be established by …Thu Dec 02 2010 - 00:00
Neary tells inquiry banks put 'gloss' on accountsFORMER FINANCIAL regulator Pat Neary has told one of the investigations into Anglo Irish Bank that it was not surprising banks…Thu Dec 02 2010 - 00:00
Central Bank review finds bonus payments made to senior bankersSIGNING-ON AND retention bonuses have been paid to senior executives in a number of banks since January 2009, a Central Bank …Thu Dec 02 2010 - 00:00
Trichet confident Irish can 'cope'The president of the European Central Bank Jean-Claude Trichet says he is confident that the Irish people can cope with this …Thu Dec 02 2010 - 00:00
Insured Anglo bondholders to offset lossesTHE SUBORDINATED bondholders at Anglo Irish Bank who took out insurance on their investment by paying for credit default swaps…Thu Dec 02 2010 - 00:00
EBS bidder seeks to share capital target costTHE PRIVATE equity consortium bidding for the EBS Building Society is seeking to share the lender’s new €438 million capital …Wed Dec 01 2010 - 00:00
Bank signals ability to raise €100m for capital requirementIRISH LIFE AND PERMANENT: IRISH LIFE & Permanent (IL&P) has said that it can raise about €100 million to meet the capital…Tue Nov 30 2010 - 00:00
Move cuts Anglo's level of exposureGUARANTEE: MINISTER FOR Finance Brian Lenihan issued a blanket guarantee over the weekend on Anglo Irish Bank’s exposure on …Tue Nov 30 2010 - 00:00
Q&ASo where do the banks stand now under the €35 billion plan to rescue the banking sector?Tue Nov 30 2010 - 00:00
Bank shares soar after being given time to raise new capital targetsSTOCK MARKET: SHARES IN Bank of Ireland and Irish Life & Permanent (IL&P) soared on the stock market yesterday after…Tue Nov 30 2010 - 00:00
Anglo name will cease to exist in weeks - HonohanBANK WIND UP: ANGLO IRISH Bank will cease to exist in name over the coming weeks, and a plan to close the bank over “a multi…Tue Nov 30 2010 - 00:00
Lenihan agrees fresh guarantee for AngloMINISTER FOR Finance Brian Lenihan has agreed to issue another guarantee to Anglo Irish Bank to prevent banks and other parties…Mon Nov 29 2010 - 00:00
Additional loans of €16bn to transfer to agencyNAMA: A FURTHER €16 billion in land and development loans will be moved to the National Asset Management Agency (Nama) from …Mon Nov 29 2010 - 00:00
€35bn of fund to be used to bail out banking systemSOME €35 BILLION of the €85 billion rescue fund is being used to bail out the banking system, with €10 billion being injected…Mon Nov 29 2010 - 00:00
Three-way plan expected to tackle banking crisisBANKS: DISCUSSIONS BETWEEN the European Union-International Monetary Fund teams and the Government authorities will intensify…Sat Nov 27 2010 - 00:00
Bailouts given as a reason for €15bn cut in budgetBANKS: THE GOVERNMENT said the cost of bailing out Anglo Irish Bank and the Irish Nationwide and EBS building societies with…Thu Nov 25 2010 - 00:00
Anglo and Irish Nationwide may form second 'bad bank'THE GOVERNMENT may create a second “bad bank” by merging the remaining operations of nationalised lenders, Anglo Irish Bank and…Thu Nov 25 2010 - 00:00
S&P says bailout cost to be at least €50bnRATINGS AGENCY Standard & Poor’s now believes the upfront cost of bailing out the banks will be at least €50 billion – its…Thu Nov 25 2010 - 00:00
Bank of Ireland shares fall further 11%BANK OF Ireland shares fell 11 per cent yesterday, continuing the stock’s decline on the market as the Government is poised to…Thu Nov 25 2010 - 00:00
Lenihan expects budget to passMinister for Finance Brian Lenihan expressed confidence today that the Government would have a majority to pass the upcoming …Thu Nov 25 2010 - 00:00
