Regulator to provide new insight into bank crisis
Tuesday July 21 2009
The Financial Regulator is expected to provide new insight into the near-collapse of the Irish banking system last autumn when it publishes its latest annual report today.
The Government was forced to guarantee all deposits in Irish banks last September after major concerns emerged about their financial stability.
Finance Minister Brian Lenihan ultimately decided to nationalise Anglo Irish Bank and to pump billions of euros of taxpayers' money into both AIB and Bank of Ireland.
The Financial Regulator has been severely criticised for failing to prevent such instability and is due to be replaced by a new Central Banking Commission.
