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BRIEF-Bank of Ireland sets out resolution plan, could impact capital
February 3, 2017 / 7:15 AM / 10 months ago

BRIEF-Bank of Ireland sets out resolution plan, could impact capital

Feb 3 (Reuters) - Bank Of Ireland

* Single Resolution Board, acting as group level resolution authority, and Bank of England, working together within resolution college, have reached a joint decision on group resolution plan for group

* Preferred resolution strategy for group consists of a single point of entry bail-in strategy through a group holding company.

* Group expects to establish a holding company ('‘holdco’') which would become parent company of group.

* While it is not expected to impact on group’s reported CET1 ratios, a holdco structure may adversely impact consolidated group’s reported total capital and tier 1 capital ratios

* Impact would depend on timing of a holdco establishment, absolute capital levels and capital structure at time of establishment, and any mitigating actions group may take

* Any impact arising would be eliminated as relevant subordinated debt is redeemed. Source text for Eikon: Further company coverage: (Reporting By Rachel Armstrong)

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