Bank closure fund resources to be kept to bare minimum

The statutory fund for closing troubled banks in an orderly manner will be left with just €100m after its resources have been used to help restructure the credit union sector.

14th July, 2012

The statutory fund for closing troubled banks in an orderly manner will be left with just €100 million after its resources have been used to help restructure the credit union sector, according to a consultation document from the Department of Finance last week.

The Credit Institutions Resolution Fund will retain that amount on an ongoing basis to help finance resolution costs should another Irish financial institution need rescuing, according to department proposals.

The fund currently...

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