The Bankwatch

Tracking the consumer evolution of financial services

Irish banks must increase capital to reflect the risk they took on

Irish banks are being forced to face reality. 

Irish banks need €24bn after stress tests |

Ireland’s stricken banking sector will require €24bn in additional capital, pushing the total cost of the government’s rescue to about €70bn (£62bn).

As the results of stress tests on the country’s banks were revealed, the government announced a radical shake-up of the industry aimed at restoring investor confidence in Ireland’s banking sector, which remains dependent on the European Central Bank.

Written by Colin Henderson

April 1, 2011 at 01:32

Posted in Uncategorized

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