Central Bank Sells Further €500 Million of Anglo Irish-Linked Bonds
The Central Bank has sold a further €500 million of bonds that were linked to the restructuring four years ago of the bailout of now-defunct Anglo Irish Bank, the Irish Times reported. The Central Bank received €25 billion of government bonds in February 2013 under a complex restructuring of promissory notes used by the State during the financial crisis to rescue the bank, which was subsequently named Irish Bank Resolution Corporation (IBRC). IBRC had been using the promissory notes as collateral for emergency funding at the Central Bank. When the failed commercial property lender was put into liquidation four years ago, the government replaced these notes with bonds. Read more.