Banks may need €3.6bn to plug pension holes

AIB and Bank of Ireland’s (BoI) combined pension deficits of €2.7 billion will have to be deducted from their core capital, if new rules floated by the influential Basel Committee on Bank Supervision come into force.

13th February, 2010

AIB and Bank of Ireland’s (BoI) combined pension deficits of €2.7 billion will have to be deducted from their core capital, if new rules floated by the influential Basel Committee on Bank Supervision come into force.

The proposals, known as Basel 3, would mean that the two big Irish banks would require €2.7 billion in extra capital to offset their pension holes alone. On top of that, other proposals from the Basel committee...

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