Irish banks pass stress tests

The Central Bank of Ireland today (8 December 2011) published the results for the 2011 EU-wide stress test on Irish banks.

The Irish banks involved in the European Banking Authority (EBA) capital exercise (Bank of Ireland, AIB and Irish Life & Permanent) do not require any additional capital, the report found.

"Irish banks have been recapitalised, following the Prudential Capital Assessment Review (PCAR) process in March 2011, and are required to maintain a minimum Core Tier 1 Ratio of 10.5% on an on-going basis," said a Central Bank statement.

Circa €800m of gains generated by Bank of Ireland as part of its capital generating Liability Management Exercises in July 2011 are not included in the amount of Common equity of €8bn at September 30, 2011.

Detailed results for AIB, Bank of Ireland and IL&P have been published by the individual institutions and on the Central Bank Website.