‘No more call’ for taxpayer bank bailouts

There will be no further call on the Irish taxpayer to bail out the banks following the results of the ECB stress tests, which showed that Permanent TSB failed one part of the comprehensive assessment.

PTSB had a capital shortfall of €854.8m, according to the ECB.

However, the bank’s chief executive, Jeremy Masding, said 80% of the capital hole had been plugged through measures already taken this year combined with €400m of contingent convertible (CoCo) bonds at its disposal.