The Minister welcomes the appointment of Mr Jeremy Masding to the newly created position of CEO at Permanent TSB bank which arises from the planned decoupling of the banking business from the life entity into an independent autonomous operation.
Commenting on today’s (16th January 2012) appointment the Minister said:
The Minister for Finance today (13 January 2012) noted that the Central Bank had secured a High Court Order for the appointment of a special manager to Newbridge Credit Union.
The special manager will take over the running of Newbridge Credit Union. In addition, the special manager has been assigned the following tasks.
The Minister for Finance, Michael Noonan TD, today welcomed the decision of the European Commission to approve a scheme for the resolution of credit unions under the Central Bank and Credit Institutions (Resolution) Act 2011. The Commission found the scheme to be in line with its guidance on state aid to overcome the financial crisis.
The Minister said:
The Minister for Finance, Michael Noonan TD, today welcomed the decision of the European Commission to approve the revised restructuring plan of Bank of Ireland (“the bank”) under EU state aid rules.
08.12.11Appointment of Mr Michael Geoghegan as Chair of NAMA Advisory Group and the publication of the Geoghegan Review on NAMA
Further to his Budget speech on 6th December, in which the Minister for Finance, Michael Noonan T.D., set out his intention to establish a Group to advise him on NAMA. The Minister is happy to announce Michael Geoghegan as chairman of the NAMA Advisory Group. The Minister stated:
08.12.11Media Notification - Mr. Paul Bolger has been appointed Press Officer at the Department of Finance replacing Mr. Eoin Dorgan.
Media Notification - Mr. Paul Bolger has been appointed Press Officer at the Department of Finance replacing Mr. Eoin Dorgan.
His contact details are:
Telephone 01 – 604 5636
Fax 01 – 676 2285
Please update your contact details accordingly
On 23 November 2011, the Minister for Finance (the “Minister”) noted that Bank of Ireland (the “Bank”) had to raise a further €350mn of core tier 1 capital by 31 December 2011 to satisfy the requirements of the 2011 Prudential Capital Assessment Review (“PCAR 2011”). The Minister announced that he was considering the powers available under the Credit Institutions (Stabilisation) Act 2010 as am
The Minister for Finance, Michael Noonan T.D. stated:
“I welcome the outcome of the European Banking Authority capital exercise, which show that Irish banks do not require additional capital under the higher standard now required.
In 31 March 2011, the Central Bank of Ireland announced that the Bank of Ireland (the “Bank”) was required, amongst other things, to generate core tier 1 capital of €4.2 billion as a result of the 2011 Prudential Capital Assessment Review (“PCAR 2011”).