40-year bond could be issued to save State billions on Anglo
The main advantage of issuing a long-term bond is that the State would not have to pay the €3 billion a year it gives to the Irish Bank Resolution Corp (the former Anglo) on the back of the promissory notes. At present, the bank takes that money and gives it to the Irish Central Bank, which is funding IBRC through emergency liquidity assistance.
A Government spokesman declined to comment last night beyond saying that “complex technical discussions are ongoing and the objective is to deliver the best deal possible for the Irish taxpayer”.
Posted on September 18, 2012, in Government and tagged Anglo, Anglo Irish Bank, Banks, Central Bank of Ireland, European Stability Mechanism, Government of Ireland, Irish Times, Michael Noonan, Promissory note. Bookmark the permalink. Leave a comment.