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Thu 02 Feb 2009Bank regulation 'badly needs reform', says Lenihan
Regulation of the State's financial institutions needs to be reformed, Minister for Finance Brian Lenihan said today. This evening, the Government motion on the recapitalisation terms relating to Allied Irish Banks and the Bank of Ireland. was passed in the Dáil.
Mr Lenihan was speaking after last night's €7 billion recapitalisation of Bank of Ireland and Allied Irish Banks and in the wake of revelations that Irish Life & Permanent had placed a €7 billion deposit with Anglo Irish Bank last year before its year end.
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