Support provided to Anglo Irish Bank in September 2008

With a number of investigations continuing into Anglo Irish Bank all sorts of information is tumbling out into the public domain. The latest is an RTÉ report of confirmation from Irish Life & Permanent that it provided “exceptional support” to the bank during September 2008. From the RTÉ report

The statement follows an earlier revelation [added link] that Government appointed directors in Anglo Irish Bank are investigating a deposit of billions of euro by Irish Life & Permanent in the bank before the end of its financial year. It is understood the issue of how the deposit affected accounts at Anglo Irish is also being investigated by the financial regulator.

Adds More from P O’Neill at Irish Election. Update And more in today’s Irish Times.
Last night the Irish Times noted

ILP confirmed in a statement last night that it had placed deposits with Anglo Irish during September 2008 and in particular on September 30th following announcement of the Government bank guarantee scheme. The company said that the transactions were “fully and appropriately accounted for” in its books and records, and in its reports and returns to the regulator. “During a period of unprecedented turmoil in global financial markets, there was an acceptance that financial institutions would seek to provide each other with appropriate support where possible,” the company said. The company declined to confirm the amounts involved.

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