March, 30, 2010

The Cabinet will be briefed this morning by Finance Minister Brian Lenihan on the final details of the master plan to overhaul the banks.His speech in the Dáil this afternoon will be preceded by statements by the National Asset Management Agency and the Financial Regulator.Yesterday's big drop in share prices make the banks' hopes keeping state control to a minimum even tougher.

AIB is hurtling towards majority state control despite its best efforts. Bank of Ireland hopes to contain the Government's shareholding to less than 50% Already Minister Lenihan has introduced the bank guarantee, nationalised Anglo and pumped €11 billion into the three largest lenders. Now he says he hopes to sort out the banks once and for all.Today the regulator will say how much money banks will need to cushion against bad loans.

.

.