Written answers

Wednesday, 12 January 2011

Department of Finance

Banks Recapitalisation

2:30 pm

Photo of Tommy BroughanTommy Broughan (Dublin North East, Independent)
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Question 78: To ask the Minister for Finance the amount of capital that has been pumped into the Irish banking system since 30 September 2008; the amount of further capital he envisages pumping into the banking system during the first three months of 2011; and if he will make a statement on the matter. [1367/11]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Minister, Department of Finance; Dublin West, Fianna Fail)
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Capitalisation of Credit Institutions
Credit InstitutionCost of Share AcquisitionCost of Preference SharesValue of Promissory Notes IssuedCapital Provided to 31 December 2010Additional CT1 required by Central BankReturn on Investment to date*Projected Total Assistance
€bn€bn€bn €bn€bn€bn
Anglo Irish Bank4-25.2829.280--29.28
Allied Irish Banks3.73.5-7.2006.065-13.27
Bank of Ireland1.71.8-3.5002.199-0.495.21
Irish Nationwide Building Society0.1-5.35.400--5.40
EBS Building Society0.625-0.250.8750.438-1.31
* Cash received on cancellation of Warrants

The table above sets out the amount of capital injected by the State into the Irish Banking System to date. The Central Bank has set out the further capital that will be required by AIB, BOI and EBS in order for them to meet a 12% core tier 1 ratio by the end of February 2011 as agreed in the Programme for Financial Support with the IMF, EU and the ECB.

The State remains committed to meeting this capital requirement to the extent that it cannot be met from other sources.


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