Irish loan specialist to close offices in Belfast, Cork and Limerick as Lloyds sells off more loans

Bank of Ireland rose by 1.5 per cent to 33 cents on a day when Minister for Finance Michael Noonan said the State had no plans to sell its residual 14 per cent stake in the company. Photograph: Alan Betson  y

Energy producers slump as Opec chooses to keep its targeted production unchanged

Minister for the environment Alan Kelly with John Tiernney, chief executive of Irish Water: the new entity is among Murray Consultants’ clients. Photograph: Cyril Byrne

New clients in past 18 months include Three, Hibernia Reit, Brehon Capital and Carval

Minister for Finance Michael Noonan: “All bilateral lenders have now confirmed the waiver in respect of their loans to us”. Photograph: Chris Ratcliffe/Bloomberg

Money will be paid from cash balances held by the National Treasury Management Agency

New draft rules for credit unions aimed at helping prevent their collapse  Photograph: Alan Betson/The Irish Times

Regulations are designed to tighten controls and safeguard against a crash

The portfolio of about 4,000 Irish non-performing residential home loans obtained from Llloyds  had a face value of €1.1 billion. Photograph: Andrew Winning/Reuters

Loans were acquired from Lloyds and was previously managed by Certus

Chairman Ciarán Lynch said: “We are at the beginning of a process, not the end. While significantly preparatory work has been carried out by the committee and the secretariat over the past few months, we recognise that there is a huge volume of work ahead of us. But we are ready for that work and the challenges that come with it.”

Committee now has powers to compel written and oral evidence

Patrick Honohan said the Central Bank of Ireland’s plan to introduce new rules around mortgage lending might miss the original January 1st timeframe. Photo: Dara Mac Donaill/The Irish Times

Honohan says concerns about a new property bubble were not the “driver” behind new proposals

Fianna Fáil finance spokesman Michael McGrath: described situation in relation to central credit register as “completely unacceptable”. Photograph: Alan Betson

Opinion: register will not be fully operational until 2017

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