Anglo was renamed Irish Bank Resolution Corporationin 2011 and subsequently took over the remains of INBS
The Central Bank of Ireland is near the end of selling down bonds received a decade ago under a restructuring of the State's rescue of the now-defunct Anglo Irish Bank and Irish Nationwide Building Society. Photograph: Alan Betson / The Irish TimesThe Central Bank has sold a further €500 million of bonds linked to the restructuring a decade ago of the taxpayer bailout of the now-defunct Anglo Irish Bank and Irish Nationwide Building Society .
This means that the Central Bank has sold off 98 per cent of about €25 billion of government bonds it received in February 2013 under a restructuring of so-called promissory notes, which had been used by the State during the financial crisis to rescue Anglo and INBS. It is now down to just €500 million of such bonds.
Anglo was renamed Irish Bank Resolution Corporation in 2011 and subsequently took over the remains of INBS. The Central Bank has sold €24.5 billion of the bonds since 2014, including Tuesday’s transaction, to the National Treasury Management Agency , which has immediately cancelled the notes.
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