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”).
The Government has today informed Allied Irish Banks (AIB) that it has no objection to the decision of the board of the bank to nominate Mr. David Duffy as its preferred unanimous choice for appointment as its Chief Executive Officer. In conveying this message the Minister for Finance, Mr. Michael Noonan T.D., said:
The Government has successfully concluded its third successive quarterly programme review mission with the EU Commission, the ECB and the IMF.
16.11.11Extension of the Eligible Liabilities Guarantee (ELG) Scheme and introduction of the option to make unguaranteed deposits
Please see below two related press releases on the Eligible Liabilities Guarantee (ELG) Scheme and the introduction of an option to make unguaranteed deposits.
If you have any queries, please contact the Department of Finance Press Office.
A . Extension of the ELG Scheme
This Medium-Term Fiscal Statement provides an update to the Government’s medium-term budgetary strategy. It is the first stage in a sequence of budget-related announcements that will lead in to Budget Day.
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.
14.10.11Minister for Finance, Mr Michael Noonan TD, welcomes a timely assessment of the Irish Economy and Government Policies by the OECD
The OECDs Economic Survey of Ireland was launched in Dublin today by Mr Robert Ford, Deputy Director of the OECD. On its publication, the Minister for Finance said:
On 30 May 2011, the Government established an independent Commission on Credit Unions to review the future of the credit union movement and make recommendations in relation to the most effective regulatory structure for credit unions, taking into account their not-for-profit mandate, their volunteer ethos and community focus, while paying due regard to the need to fully protect depositors savin
The Minister for Finance, Mr Michael Noonan, TD, today announced that the Government had approved the publication of the Report of the Inter-Departmental Group on Mortgage Arrears. On publication of the Report, Minister Noonan stated:
The following statement on the end-September 2011 Exchequer Returns was issued today (Tuesday, 4th October 2011) by the Minister for Finance, Mr. Michael Noonan, T.D. and the Minister for Public Expenditure and Reform, Mr. Brendan Howlin, T.D.