Oireachtas Joint and Select Committees

Wednesday, 12 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: Permanent TSB

2:45 pm

Mr. Glen Lucken:

What will certainly always be the case is that the contingent capital, CoCo, will have to be deducted. If we are looking at a gross figure of €855 million today, on an equivalent basis it would be €455 million. We are talking about covering 80% of the total, but that is taking the CoCo into account.

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