The chairman of AIB’s AllFirst subsidiary in the United States is to bring forward his retirement following the investigation into an alleged €700m fraud in the bank’s Baltimore office.

The Allied Irish Bank has spent €900m in the past two months to save its US subsidiary, Allfirst, according to reports this morning.

The chief executive of the US subsidiary of Allied Irish Banks has reportedly been given a year to turn the business around.

Staff at Allied Irish Banks are demanding a meeting with the bank's management to discuss the fall-out from the Ludwig report.

Two foreign exchange traders from American giant Citibank were suspended today in the wake of the report into the €486m loss suffered by Allied Irish Bank's US subsidiary.

AIB chief executive Michael Buckley has explained why he offered to resign over an alleged $700m (€750m) fraud at the bank’s US subsidiary, Allfirst. Speaking in Dublin, Mr Buckley said he felt the resignation offer was appropriate, but the board of directors rejected it.

Six executives of the AIB subsidiary Allfirst, including its Vice President and Treasurer David Cronin, have been sacked following the publication of the Ludwig Report.

Six executives at Allfirst, the US-based AIB subsidiary where losses of up to €750m were sustained due to rogue trading by John Rusnak, have been dismissed.

Allied Irish Banks was today set to announce if heads would roll following its foreign exchange loss of almost €700 m at American subsidiary Allfirst.

The directors of Allied Irish Bank and its US subsidiary, Allfirst, are still locked in talks in Dublin and are not expected to face the media until tomorrow at the earliest.

Group chief executive of Allied Irish Banks Michael Buckley is safe in his job, despite the loss of $691m (€789m) by a trader at a US subsidiary, it was reported today.

The boards of AIB and its US subsidiary AllFirst will be back in session at the bank's Dublin headquarters this morning for day two of discussions on the $700m Rusnak affair.

AIB officials should be called before the Dail to explain the €746m loss it made through a complex fraud at a US subsidiary, the Labour Party said today.

Officials at AIB bank were today being presented with a report into the €746m fraud at its American subsidiary 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.

AIB will receive a full report in the coming week on the €750m it lost because of a rogue trader.

AIB will he handed an expert’s report on a €760m suspected fraud at its main American subsidiary next week.

The €760m loss blamed by AIB on a rogue trader may have been due to lax controls at its American subsidiary, it was claimed today.

US Federal Prosecutors are considering pressing charges against rogue trader John Rusnak over an alleged fraud at AIB, which led to the loss of €690m.

Shares in AIB bank - whose value slumped earlier this month following confirmation of an €800m alleged fraud loss at an American subsidiary - soared in price on the stock exchange today following renewed takeover speculation.

Allied Irish Banks has dismissed rumours it's planning to sell the American subsidiary at the centre of multi-million dollar fraud allegations.

Allied Irish Bank bosses say they won't resign following the financial scandal at the bank's US subsidiary.

Allied Irish Bank, Ireland’s biggest bank, today confirmed the consequences on its results of the suspected $750m (€866m) fraud loss at one of its American subsidiaries.

Allied Irish Bank, Ireland’s biggest bank, was today presenting its annual results in Dublin, just two weeks after confirming a massive deficit of more than €866m at an US subsidiary.

There is fresh evidence that the man at the centre of the massive AIB fraud may not have been acting alone.

A top American banker was today preparing to head a probe by the AIB bank into the loss of more than $750m through a US subsidiary company.

The Board of Directors of Allied Irish Bank have appointed a top US expert to lead the investigation into the loss of $750m through its American subsidiary Allfirst.

Allied Irish Banks PLC officials say they will centralise their management and treasury activities throughout the company.

The Irish Bank Officials Association is calling on all financial institutions to review internal control mechanisms in the wake of the AIB bank fraud revelations.

Rogue trader John Rusnak has told the FBI he lost €877m from Allied Irish Banks’ American subsidiary as he tried to make up for his losses.

AIB will today begin implementing crisis measures after losing $750m in a suspected fraud at its US subsidiary, Allfirst.

The board of AIB has tonight announced a range of crisis measures following the $750M fraud at part of its US operation.

A crisis board meeting at AIB has just ended this evening.

A crisis board meeting at AIB is continuing into the evening.

John Rusnak, the trader at the centre of the scandal over the $750m (€866m) missing from a subsidiary of Allied Irish Bank, was today in hiding, away from the glare of the world’s media.

Directors at Ireland’s biggest bank, AIB, were meeting in special session today to assess worldwide reaction to yesterday’s shock disclosure of a $750m (€866m) fraud loss at an American subsidiary.

Shares in AIB have recovered slightly this morning after slumping yesterday following news of an alleged $750m fraud in the bank’s US subsidiary Allfirst.

Parallels between John Rusnak’s alleged €866m fraud and the collapse of Barings Bank expose ‘‘incompetence and negligence’’ in the banking world, rogue trader Nick Leeson claimed today.

A spokesman for the Central Bank has confirmed that the bank is carrying out its own investigation into the alleged $750m (€866m) fraud at AIB subsidiary Allfirst.

The US banker at the centre of an alleged €866m fraud has met voluntarily with the FBI and federal prosecutors, his lawyer said.

A leafy suburb in the US was today in shock as it learned how one of its most respected citizens stands accused of a $750m (€866m).

The Minister for Finance has said the AIB fraud raises serious questions about the management of bank's subsidiary in the US.

The Minister for Finance has said that the fraud against AIB has damaged the bank and the Irish economy.

The rogue trader suspected of being behind a $750m swindle at an American subsidiary of AIB has been named as John Rusnak.