Oireachtas Joint and Select Committees

Thursday, 14 December 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Paradise Papers (Resumed): Allied Irish Banks

9:30 am

Mr. Bernard Byrne:

The profits will sit within the group. We have an obligation. We are in the market with a statement of between €3 billion and €4 billion of what are effectively bail-in instruments, which will have to go in. In addition to our capital, we will also have debt instruments. In the event of a crisis or of capital being reduced, those instruments will be liquidated and will become more capital for the bank.

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