"Irish State May Seize Full Control of AIB This Week, Post Says" http://www.bloomberg.com/news/2010-...-full-control-of-aib-this-week-post-says.html I can not find the Sunday Business Post article in its web site at http://www.thepost.ie/ However I did find this article: http://www.irishtimes.com/newspaper/ireland/2010/1220/1224285916433.html that mentions Mary McAleese.
Update: Here is the article from the Sunday Business Post: "State poised for final AIB move" http://www.sbpost.ie/news/state-poised-for-final-aib-move-53549.html and an updated article from Bloomberg: "Allied Irish Banks Plunges After Report of Nationalization" http://www.bloomberg.com/news/2010-...-plunges-after-report-of-nationalization.html
"Trouble With Irelandâs Bank Bill Could Delay Reforms" http://blogs.wsj.com/source/2010/12/20/trouble-with-irelands-bank-bill-could-delay-reforms/ * December 20, 2010, 3:13 PM GMT snippet: This is a further blow to the governmentâs ability to handle a crisis in a fast and efficient manner. Adding to its troubles: Irelandâs President Mary McAleese will decide whether to refer the bill to the Supreme Court. Under the constitution, the president has the power to hold a meeting of the Council of State, which includes Prime Minister Brian Cowen, High Court President Nicholas Kearns and Attorney General Paul Gallagher. The meeting to discuss the bill takes place on Tuesday and, according to a spokeswoman for the president, a decision will be most likely issued by the President late Tuesday or, at the very latest, on Wednesday. The Department of Finance must wait for that decision, but a statement from the department said itâs âinconceivableâ that Mr. Lenihan would make specific directions or asset transfers unless they were supported by the European Central Bank.
EU clears state aid for Irish Banks: http://europa.eu/rapid/pressRelease...format=HTML&aged=0&language=EN&guiLanguage=en "State aid: Commission temporarily clears support for Anglo Irish Bank, Irish Nationwide Building Society and Allied Irish Bank" Reuters also published a few pieces in recent hours about this. The articles can be found as links from this page: http://finance.yahoo.com/q/h?s=ALBK.L+AIB
http://af.reuters.com/article/burundiNews/idAFLDE70807Y20110109 "Bank of Ireland in talks with Mideast funds-paper" the story quotes the Sunday Business Post
Well another round of stress tests and another boatload of capital required by AIB (and other Irish banks) AIB requires â¬13.3bn, BOI needs â¬5.2bn, EBS â¬1.5bn and IL&P â¬4bn http://www.financialregulator.ie/pr...iquidityResultsPublishedforBankingSector.aspx http://noir.bloomberg.com/apps/quote?ticker=ALBK:ID 1,756 million shares plus from previous capital raising on 23 December 2010 http://www.finance.gov.ie/viewdoc.asp?DocID=6631 10,489,899,564 convertible non-voting shares total is about 12.246 billion shares last traded at 0.189 EUR market cap (including CNV shares) is about 2.314 billion EUR yet they need to raise another â¬13.3bn
From the AIB web site: http://www.aibgroup.com/servlet/Con...B_Investor_Relations/IR_Homepage&channel=IRCA http://www.aibgroup.com/servlet/Con...=AIB_Press_Releas&channel=IRCA&position=first Investor News AIB Capital Update - 31 March 2011 31st March 2011 17:45 Of the total increased capital requirement of â¬13.3bn an amount of â¬1.4bn may be in the form of contingent capital. The Board of AIB fully appreciates the continued strong support of the Irish Government to the bank and its commitment to ensure that all of the capital required by AIB will be raised. This support reaffirms AIBâs central position in the Irish banking landscape. AIB will continue to work with the State to determine the optimum sequence to generate the committed capital in line with the proposals in the Ministerâs speech. AIB plans to make presentations to analysts and media on 12th April which will incorporate commentary on the bankâs 2010 preliminary results to be announced that day. These presentations will also provide an update on AIBâs strategic review of its business and restructuring plans.
Proposed combination with Educational Building Society (EBS) As announced by the Minister today, it is intended that AIB will be combined with EBS, subject to State aid and any regulatory approvals required. AIB welcomes this proposal and will update the market in due course as details are finalised and developed further. http://en.wikipedia.org/wiki/EBS_Building_Society
List of Irish financial institutions and their fate: AIB: majority state ownership IRE: approx. 36% state ownership Irish Life and Permanent: so far has escaped state ownership, but now needs 4 billion EUR http://www.financialregulator.ie/pr...iquidityResultsPublishedforBankingSector.aspx http://en.wikipedia.org/wiki/Irish_Life_and_Permanent EBS: I think this is state owned already http://en.wikipedia.org/wiki/EBS_Building_Society Anglo Irish: nationalised January 2009 http://en.wikipedia.org/wiki/Anglo_Irish_Bank
Bank of Ireland http://www.bankofireland.com/about-boi-group/press-room/press-releases/ http://www.bankofireland.com/about-...essment-review-and-capital-requirement/#march The Bank is working actively, with its advisors, on initiatives with a view to meeting the â¬4.2 billion equity capital requirement through a combination of capital management initiatives, other capital markets sources, and support from existing shareholders. The Minister for Finance has stated that the Group will be provided with time in order to raise/generate the additional capital requirement from private sources. Any capital that cannot be raised/generated from private sources to meet this capital requirement will be invested by the State. We expect to be in a position to make an announcement on our capital plans in the coming weeks. We will be releasing our financial results for the twelve months ended 31 December 2010 on 14 April 2011.