BoI faces state control after stress test results

BANK OF IRELAND could end up under state control after the announcement of tomorrow’s stress tests on the Irish banks.

Sources say very rigorous testing has been imposed to ensure the banks will need no further funding once this final assessment has been concluded.

They suggest that BlackRock, a global leader in stress testing, is setting a “gold standard” for the Irish banks in its examination of their capital needs over the next 25 years, to make sure they will be able to meet any future bad debts without destabilising the banking system.