Central Bank sells further €500m of Anglo Irish-linked bonds to NTMA

Bonds linked to securities the Central Bank received in 2013 under bailout restructuring

The securities are the result of the Central Bank receiving €25 billion of government bonds in 2013 under a complex restructuring of promissory notes used by the State during the crisis to rescue the bank.

The securities are the result of the Central Bank receiving €25 billion of government bonds in 2013 under a complex restructuring of promissory notes used by the State during the crisis to rescue the bank.

 

The Central Bank has sold a further €500 million of bonds linked to the bailout of Anglo Irish Bank, bringing total disposals this year to €3 billion.

The securities are the result of the Central Bank receiving €25 billion of government bonds in 2013 under a complex restructuring of promissory notes used by the State during the crisis to rescue the bank.

When Irish Bank Resolution Corporation (IBRC), as Anglo Irish was renamed in 2011, was put into liquidation almost four years ago, the promissory notes were being used by the failed bank as collateral for emergency Central Bank funding.

The NTMA said in a statement that it bought the latest tranche of bonds from the Central Bank on Tuesday and subsequently cancelled them.