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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