Irish Bank Recapitalisations

Irish Bank Recapitalisations

Michael outlines the capital injections made by the Irish state in an attempt to save some of the country's biggest banks, including Anglo Irish Bank, Allied Irish Banks and Bank of Ireland.
Overview

Bank Recapitalisation essentially involves providing banks with new capital. In 2010, Irish banks found themselves needing huge sums of capital to shore up their balance sheets. However, the slow and gradual emergence of the crisis meant even experts were imperceptive to the much larger scale of capital required.

Key learning objectives:

  • Define Bank Recapitalisation

  • Explain the atmosphere leading up to the crisis

  • Discuss whether bank’s anticipated the scale of the problem incoming.

  • Highlight the actions taken by organisations to tackle the Financial Crisis.

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Summary
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Expert
Michael Torpey

Michael Torpey

Michael began his career working with the Irish Finance Ministry. In 1992 he joined Irish Permanent Building Society as its first Treasurer and in 2000 became Finance Director at First Active. In 2010 he set up a specialist banking unit to lead the Irish State’s handling of the banking crisis. In 2013 Michael became Chief Executive of the Bank of Ireland until he retired in 2018.

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