Anglo Irish Bank Renamed After ‘Appalling’ Past Failings
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Anglo Irish Bank Corp. and Irish Nationwide Building Society, which are merging, will be renamed as the government moved to wind down the lenders damaged by their “appalling failings.”
The merged entity will be renamed the Irish Bank Resolution Corporation, Finance Minister Michael Noonan said in an e-mailed statement. Irish Nationwide said today its assets and liabilities have been transferred to Anglo Irish under a government’s plan to wind down the two Dublin-based institutions, which received a combined $50 billion in taxpayer rescue funds.