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Tuesday 7 February 2023 Dublin: 6°C

# Bank Recapitalisation

All time
# Courts
Was it legal? High Court refers PTSB bail-out case to Europe
The High Court could not rule on whether the move was legal.
# Dáil
Noonan: Dara Calleary "is like an arsonist blaming the fire brigade"
The Finance Minister was accused of failing to deliver a deal on bank recapitalisation.
# Retrospective recapitalisation
Noonan: Taxpayers put lots of money into BOI and AIB, now we could get some back
Michael Noonan has explained the significance of last night’s agreement between eurozone finance ministers about the potential retrospective recapitalisation of Ireland’s banks.
# Mortgages
AIB to increase mortgage interest rates by 0.5pc
AIB’s move, coming a week after Bank of Ireland, adds €56.50 per month to a 25-year mortgage worth €250,000.
# State deficit
Ireland spent €25 billion more than it took in last year
The annual report from the Comptroller & Auditor General says State spending reached an all-time high in 2011.
# Irish Banks
Infographic: How much have the Irish put into their banks?
As this image reveals, quite a bit.
# Banks
Honohan's call for direct recapitalisation of banks is '€64bn too late' - SF
Sinn Féin has welcomed a call from the governor of the Central Bank for distressed banks to be directly recapitalised from EU funds.
# Banks
Honohan calls for EU-wide 'banking union'
The Central Bank governor also said Irish banks should be recapitalised with EU funds – and without running up our national debt.
# AIB
AIB confirms plan to seek 2,500 voluntary redundancies
The 99.8 per cent state-owned bank will seek the redundancies as part of plans to reduce its staff costs by €170 million per year.
# Club Sub
AIB still paying millions for staff gym and golf club fees
The bank – which is 99.8 per cent owned by the taxpayer – still pays fees for thousands of staff, despite a State ban on bonuses.
# Bondholders
Noonan assures German bankers: 'Ireland will not burn senior bondholders'
Michael Noonan tells an audience in Berlin that senior bondholders in banks, or in the Irish state itself, will be repaid in full.
# Exchequer
Government's 2011 tax income misses Budget target by 2.5 per cent
New data published by the Department of Finance show that income tax, VAT and corporation tax were all lower than expected.
# Recapitalisation
Noonan says no additional funds needed for IL&P recapitalisation
The Minister for Finance says that the €1.3 billion that will be needed to recapitalise the financial institution has already been accounted for.
# Exchequer
Tax intake €2 billion higher than last year but still behind target
New figures from the Exchequer also show its deficit has blown up to €22.2 billion due to payments made to recapitalise Irish banks.
# Credit Unions
Government to recapitalise credit unions by as much as €1billion
Finance minister Michael Noonan has also said that the banking sector is now well-placed to deal with any further distress in the economy.
# Courts
High Court grants permission to force through taxpayer's IL&P injection
The Minister for Finance is granted a court order to inject €4bn of public funds into Irish Life & Permanent.
# BOI
BOI investment deal reduces level of state funding for recapitalisation
A group of investors has agreed to buy up to €1.123bn of the state’s stake in Bank of Ireland, meaning the state is now likely to put €1.7bn into the bank.
# Irish Life
IL&P shareholders reject plans for state funding
However, the Minister for Finance Michael Noonan has vowed to go ahead with the plans to recapitalise IL&P in spite of the shareholders’ wishes.
# Irish Life
Irish Life and Permanent shareholders could reject nationalisation
The government is proposing to inject nearly €4 billion to take 99 per cent control of the bank.
# Bank of Ireland
Bank of Ireland deal knocks €2bn off taxpayer’s bill
The savings mean the taxpayer will have to give the bank less cash to keep it afloat.
# Bank Recapitalisation
EU wants banks recapitalised "as soon as possible"
Olli Rehn’s spokesman said the European Union thought Brian Lenihan’s delay was “temporary” – but still wants it done.
# GE11
Noonan casts doubt over Lenihan's recapitalisation story
The Fine Gael spokesman says he believes Brian Lenihan didn’t receive the approval of the EU or IMF before his announcement.
# Face off
Who's outstroked whom?
Was postponing any further bank recapitalisations a prudent political move brought about by Fine Gael pressure, or an epic Fianna Fáil masterstroke?
# debates
Deputy Leaders clash over nurses, Irish and economy
A Deputy Leaders’ debate sees Mary Hanafin, James Reilly and Joan Burton discuss the economy and other issues.
# AIB
AIB could be nationalised by day’s end
Brian Lenihan offers AIB €3.7bn from the National Pensions Reserve Fund, after asking the High Court for a ‘private hearing’ on the matter.
# Bank of Ireland
Bank of Ireland puts finishing touches on recapitalisation plan
Bank must send plan forward to the Financial Regulator before the end of the year.
# Allied Irish Banks
AIB loses €13bn in deposits since start of 2010
A trading update from the country’s biggest retail banks reveals a massive outflow in cash deposits.