Bank of Ireland continues to make progress towards self-funding by issuing a €1bn unguaranteed three-year covered bond.

Even more mortgage interest rate hikes have not been ruled out by Bank of Ireland; with its CEO, Richie Boucher, saying funding costs “will be a key driver” of future decisions.

The Fiscal Advisory Council (FAC) has questioned suggestions by rival economic think-tank the Nevin Economic Research Institute (Neri).

Weaning Irish banks off the Eligible Liabilities Guarantee scheme; driving down deposit rates, kickstarting the supply of credit, and the introduction of the Insolvency Bill, are all key to restoring banks to profitability.

THE country’s main representative body for credit unions has been branded “irresponsible and negligent” for appearing to question the security of the state bank guarantee, under which the credit union movement is indirectly protected.

TAOISEACH Brian Cowen has sought to reassure people that deposits in the country’s banks are secure as talks continue about a possible bailout of the sector.

The European Commission has approved the extension of Ireland's bank guarantee scheme for a further six months.

DEBT topping more than €37 billion is covered by a state safety net for major banks, Finance Minister Brian Lenihan revealed.