Irish Central Bank Said to Plan EU1.7 Billion Payment to StateDara Doyle
Ireland’s central bank earmarked aboout 1.7 billion euro ($1.9 billion) for a payment to the government, according to people familiar with the situation.
The payment, which is in line with last year’s, stems from the bank’s profit in 2015, according to two people familiar with the situation, who asked not to be named as the organization’s annual report has yet to go to government. The details may be announced as early as next week.
The central bank is selling down its holdings of bonds linked to the liquidation of the former Anglo Irish Bank Corp., underpinning its profits. Finance Minister Michael Noonan said this month that central bank sales of the securities are ahead of the minimum schedule laid out when the lender was shuttered.
The central bank’s holdings of floating rate bonds related to the bank’s liquidation amount to 22 billion euros, Noonan said this month. In 2014, holdings of the notes declined to 24.5 billion euros, the central bank said its annual report.