DUBLIN, Nov 20 (Reuters) - The European Commission has approved Ireland's revised guarantee scheme for bank liabilities of upto five years in duration, Irish Finance Minister Brian Lenihan said on Friday.
Lenihan said the new scheme would be more targeted than the current scheme introduced in 2008 for lenders including Allied Irish Banks, Bank of Ireland and Irish Life & Permanent, and which runs out in September 2010.
"It will apply to certain liabilities (including deposits) incurred by participating institutions during the period upto 29 September 2010," Lenihan said in a statement. "Dated subordinated debt and asset covered securities will not be guaranteed under the scheme."
Lenihan had already indicated he was mulling a new guarantee which would cover maturities of up to 5 years but only for liabilities incurred in an "issuance window" closing at the end of next September. (Reporting by Andras Gergely) Keywords: IRELAND BANKS/EU
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17-Nov-2009 TO 17-Feb-2010 HAS BEEN FIXED AT 1.014060 PCT
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INTEREST PAYABLE VALUE 17-Feb-2010 WILL AMOUNT TO:
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DUBLIN, Nov 17 (Reuters) - Irish Life & Permanent PLC:
DISCUSSIONS HAVE COMMENCED WITH GOVERNMENT ABOUT RESTRUCTURING BUT GOVERNMENT
focused on bad bank now
TALKS ABOUT RESTRUCTURING OF SECTOR TO BEGIN IN EARNEST IN Q1
LAUNCH OF NEW HOLDING COMPANY WILL LEAVE IT WELL POSITIONED FOR OVERHAUL OF
Irish banking sector
UNREALISTIC TO EXIT ALL ECB FUNDING IN 2010
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Thank God for that.
The company is trading close to its TNAV. If someone offered you these shares a few years ago at a price close to their tnav you would have bitten their arm off! They are still excellent value.
Would be interested to hear other's opinions on IPM. We saw a large rise in this share a couple of months ago and now it seems to be holding around the 5.50 to 5.75 mark. I know it is unlike the other Irish banks and won't be taking advantage of Nama. What do you think the future holds for this share? Would like to see more discussion in this board
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