Early Irish Stress Test Details Show 3 Banks Need A Total Of $12.7 Billion


Photo: James Jordan on flickr

Results of Ireland’s banking sector stress tests are being leaked, and it doesn’t look good for Bank of Ireland.Bank of Ireland will be in need of as much as €5 billion ($7 billion) in support, according to Bloomberg’s Margaret Brennan.

She also says, citing another Bloomberg reporter Julie Hyman’s twitter feed, that three banks overall will need support for a total of $12.7 billion.

The two other financial institutions are Irish Life and Permanent and EBS Building Society. The former needs €3 billion while the latter needs €1 billion, according to Bloomberg.

Don’t miss: How Ireland got into this mess >

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