The banking stress tests show that collectively four financial institutions require a further €24billion in capital, bringing the total cost of the bailout to €70 billion.

* The breakdown is as follows:

AIB requires €13.3 billion

BoI requires €5.2 billion

EBS requires €1.5 billion

Irish Life and Permanent (IL&P) requires €4 billion

* This will be the fifth attempt to recapitalise the banks, which have so far cost the State €46 billion.

* The final bill for the banking crisis is now expected to be €70 billion.

* Raising €24 billion will give banks capital target of 10.5 per cent Core Tier 1 in the base scenario and 6 per cent Core Tier 1 in the stress scenario

*The Governor of the Central Bank Patrick Honohan said  the latest recapitalisation estimate is based on a "worst case" scenario. At €70 billion, it would be among "the costliest banking crises in history", he said

* Stress test model assumed GDP would fall by 1.6 per cent this year and GDP by 2.6 per cent. Also assumes house prices would drop 17.4 per cent in 2011

*Government to seek "significant contributions" from subordinated bondholders in the banks to pay for the cost of recapitalising the sector.

* Two new universal banks to be created - one of which will be a restructured BoI the other a new entity arising from a merger between AIB and EBS.

* Bank of Ireland will be forced to sell off €30 billion of assets by 2013.

* Michael Noonan confirms that State likely to take majority stake in Irish Life and Permanent.

*IL&P will be forced to sell Irish Life Assurance and its life and pensions business. IL&P says it will sell businesses by way of an IPO i.e. stock market float

*No additional capital for Anglo Irish or Nationwide  but a decision will be taken in May to see whether more required

* Noonan says Ireland is committed to the EU-IMF programme "even though there are changes we want to make"