Anglo Irish Bank chairman Donal O’Connor confirms State faces further multi-billion euro exposure
Jun 9th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Anglo Irish Bank chairman Donal O'Connor has given testimony today to the Oireachtas Joint Committee on Finance and the Public Service. He told the committee that some people who were still in senior management positions in Anglo had impaired loans. But he said all borrowers were being treated in exactly the same way. O'Connor said the bank's potential loan losses total €7.5 billion and he expects further impairments of €1.5 billion-€3.5 billion after the Government sets up its "bad bank," the National Asset Management Agency - - NAMA.