Banks will need more capital: Honohan
Central Bank Governor Patrick Honohan said the country’s banks will "definitely" need more capital after transferring loans to a so-called bad bank.
“The transfer is happening at very fair and honest valuations,” Honohan said at a conference in Cavan, Ireland, today.
“There’s no deviation from that. The result is that banks will be showing losses that haven’t yet been brought to their accounts” and “that means they’ll definitely need more capital.”