Bloomberg News

Ireland’s Noonan Says ‘Strong Interest’ in EBA Capital Rules

October 20, 2011

Oct. 20 (Bloomberg) -- Ireland’s Finance Minister Michael Noonan said the government has a “very strong interest” in what capital instruments will count as capital reserves by the European Banking Authority.

He said that while Irish banks should have “headroom” in terms of capital, it depends on what instruments are acceptable to European authorities, which are considering bank capital across the euro area. Speaking to reporters in Dublin today, he said the EBA tests in July allowed instruments, such as “tax instruments,” that are not envisaged for inclusion under Basel III rules.

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Finbarr Flynn at fflynn3@bloomberg.net


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