Irish and European banks used investor-friendly Irish legislation to raise €15 billion in funding last year, thanks to a specialist debt instrument that was used for the first time here just three years ago.
New figures from the National Treasury Management Agency (NTMA), the state’s expert funding unit, show the Asset Covered Securities (ACS) market in Ireland was worth €45 billion at the end of December.
Banks issue ACSs to free up cash...
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