RBS looks at the amount of capital necessary to bring the Tier 1 equity ratios of the largest...

|By:, SA News Editor

RBS looks at the amount of capital necessary to bring the Tier 1 equity ratios of the largest Irish banks up to 12% as proposed in the EU rescue package. They find that post-recapitalization, the government will own 98% of Allied Irish Banks (AIB), 91% of Bank of Ireland (IRE), and 92% of Irish Life&Permanent (ILPMF.PK) - "a de facto nationalization of the entire Irish banking sector."