Buckley 'knew of potential losses' at AllFirst

It is reported that the AIB's chief executive, Michael Buckley, was aware of potentially high-volume foreign exchange dealings at its US subsidiary, AllFirst in May of last year.

$691m (€790m) was lost at the bank's Baltimore branch by rogue trader John Rusnak.

Eugene Ludwig's report into the matter is believed to state that Mr Buckley was informed of a potential problem at AllFirst last year.

Mr Buckley has claimed that he first learned of the losses on February 4 last.

The Ludwig report will be presented to AIB tomorrow.