EU tells BoI to stop coupon payments

Bank of Ireland confirmed today it would not pay out on coupon due on March 3rd at the direction of the European Commission.

The Commission is still assessing the bank's restructuring plan, and said the bank should not make coupon payments on its Tier 1 and Upper Tier 2 capital instruments unless legally obliged.

The bank has already failed to pay out on coupons due at the start of the month, again at the request of the Commission.

In December, AIB said the Commission had instructed it to stop making interest payments on some of its debts.

Bank of Ireland fell 3 cent, or 2.3 per cent, to €1.28 on the Dublin market by 9.20am.