The Minister for Finance, Michael McGrath T.D., has today (7th September) welcomed the announcement by the National Treasury Management Agency (NTMA) of the cancellation of the final €534 million of the Floating Rate Bonds that were acquired by the Central Bank in 2013 following the liquidation of the Irish Banking Resolution Corporation (IBRC) – formerly Anglo Irish Bank - in February 2013.
Commenting on the cancellation, Minister McGrath said:
“I welcome the news that the NTMA has today purchased and cancelled the final tranche of the Floating Rate Bonds that were issued in connection with the liquidation of the Irish Bank Resolution Corporation (IBRC).
This development brings to an end a specific consequence of the banking crisis of more than a decade ago and has also happened ahead of the original schedule for the disposal of the Floating Rate Bonds.
I am also very happy to say that the substantial regulatory reforms put in place domestically and with our EU partners during the years since the crisis mean that the Irish banking system is much better placed to face any future challenges, should they arise.”
