Tuesday, 30 November 2010
Department of Finance
Banking Sector Regulation
Question 123: To ask the Minister for Finance the preparations made by him to merge Irish Nationwide Building Society into the recovery arm of Anglo Irish bank; and if he will make a statement on the matter. [45308/10]
As indicated in my Statement on 30 September last, Irish Nationwide Building Society does not have a future as a stand alone entity and will have to be sold or amalgamated. One option being explored is whether there is merit in using the Anglo Irish Asset Recovery institution to work out the assets of the Society. This issue will be finalised in the context of submitting a revised Restructuring Plan for the institution to the European Commission for approval.