AIB chief executive explains resignation offer

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.

"In order to make sure that the board debated the whole issue of accountability in the widest possible way, I put my resignation on the table because I felt that that was appropriate," he said.

"I didn’t do it as a bit of grandstanding; I did it as a serious act and the board discussed that resignation that I put on the table in detail and the board made a decision without me there and without me participating in the discussion."