IL&P on verge of availing of ‘bad bank’

Irish Life and Permanent is on the verge of availing of a “bad bank” in which it could transfer Permanent TSB’s loss-making home loans, it emerged last night.

Thu, 26 Apr, 2012 - 01:00
Stephen Rogers and Joe Brennan

The loans which are not in difficulty would be maintained in the existing business.

Sources told business news agency Bloomberg the EU and IMF was on the verge of agreeing to the move.

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CourtsPerson: Finance MinisterPerson: Michael NoonanPerson: Mike AynsleyPerson: Ray GordonPerson: Peadar HayesOrganisation: IL&POrganisation: PermanentOrganisation: Permanent TSBOrganisation: BloombergOrganisation: EUOrganisation: IMFOrganisation: EuropeanOrganisation: PTSBOrganisation: Allied Irish BanksOrganisation: Irish Bank Resolution CorporationOrganisation: Anglo Irish BankOrganisation: Irish Life & PermanentOrganisation: Irish LifeOrganisation: Central Bank
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