Editing Anglo Irish Bank (section)

==Nationalisation==
On 15 January 2009, the Government announced that it would take steps that would enable the Bank to be taken into State ownership. The Anglo Irish Bank Corporation Act, 2009 provided for the transfer of all the shares of the Bank to the Minister for Finance and was enacted under Irish law on 21 January 2009. On the same date, the Bank was re-registered as a private limited company.<ref>[https://web.archive.org/web/20090121132907/http://finance.gov.ie/viewdoc.asp?DocID=5627 Ministers Statement]></ref>

In order to protect the capital position of the Bank the Minister for Finance provided €4&nbsp;billion in capital between June and September 2009. A liability management exercise was also undertaken in August 2009 and €1.8&nbsp;billion of equity was realised on the buyback, at a significant discount, of subordinated debt instruments. In December 2009, the Minister committed to safeguard the Bank's regulatory capital position. As a result, the Minister issued of a promissory note for €8.3&nbsp;billion on 31 March 2010, bringing the government's investment in Anglo Irish bank to €12.3&nbsp;billion.<ref name="angloirishbank.com">[http://www.angloirishbank.com/About-Us/Reports/Annual_Report_Accounts_2009/Annual_Report_Accounts_PDF.pdf Annual Report for 15 months to December 2009] {{webarchive|url=https://web.archive.org/web/20101214120923/http://www.angloirishbank.com/About-Us/Reports/Annual_Report_Accounts_2009/Annual_Report_Accounts_PDF.pdf |date=14 December 2010 }}</ref> Since then the notes have risen in value to cover €30.6&nbsp;billion of the €34.7&nbsp;billion cost of Anglo Irish Bank and Irish Nationwide Bank (€25.3&nbsp;billion of the €29.3&nbsp;billion cost of Anglo and €5.3&nbsp;billion of INBS's €5.4&nbsp;billion cost).<ref>Simon Carswell,[http://www.irishtimes.com/newspaper/finance/2012/0130/1224310943150.html], The Irish Times, 30 January 2012</ref>

In his statement to the Irish Parliament on 30 March 2010, the Minister for Finance stated: "Finding a long-term solution for Anglo Irish Bank is by far the biggest challenge in resolving the banking crisis. The sheer size of the bank means there are no easy or low cost options. Winding-up the bank is not and was never a viable option."<ref>[http://finance.gov.ie/viewdoc.asp?DocID=6255&CatID=54&StartDate=1+January+2010&m=p Banks Statement by the Minister for Finance]></ref>

In September 2010, the government announced that it would separate the bank into two entities, an "asset recovery bank" to manage existing loans, and a separate "funding bank" holding deposits.<ref name=split>[https://www.bbc.co.uk/news/uk-northern-ireland-11235023 Anglo Irish Bank to be broken up by Dublin], BBC News, 8 September 2010</ref>

===Anglo Irish Bank Austria (AIBA) Sale===
On 5 September 2008, a few months before being nationalized, Anglo Irish sold its Anglo Irish Bank Austria (AIBA) division to [[Valartis Bank]].<ref>{{cite news| url=http://uk.reuters.com/article/uk-valartis-idUKL57660820080905 | archive-url=https://web.archive.org/web/20160305214742/http://uk.reuters.com/article/uk-valartis-idUKL57660820080905 | url-status=dead | archive-date=5 March 2016 | work=Reuters| title=Valartis buys Austrian unit from Anglo Irish Bank | date=5 September 2008}}</ref>

===Anglo & INBS Merger===
A Transfer Order was made by the High Court in Dublin under the Credit Institutions (Stabilisation) Act 2010 transferring the assets and liabilities of Irish Nationwide Building Society ("INBS") to Anglo Irish Bank Corporation Limited ("Anglo" or the "Bank") on 1 July 2011. This achieves the legal merger of the INBS business into Anglo consistent with directions provided to both entities by the Minister for Finance, in consultation with the European Commission.<ref>{{cite web|url=http://www.angloirishbank.ie/Mortgages/ |title=Anglo Irish Bank IE - Mortgages |access-date=2011-07-01 |url-status=dead |archive-url=https://web.archive.org/web/20110709122831/http://www.angloirishbank.ie/Mortgages/ |archive-date=9 July 2011 }}</ref>