Bloomberg News

Irish Lifting of Short Selling Ban Only Affects Bank of Ireland

January 03, 2012

Dec. 30 (Bloomberg) -- The Irish Central Bank’s move today to lift a short selling ban on certain financial instruments relates only to Bank of Ireland Plc, according to a central bank spokeswoman.

The decision follows the completion of Bank of Ireland’s recapitalization this year, spokeswoman Nichola Faulkner said by phone today. The lifting of the ban, in place on banking stocks since September 2008, does not affect Ireland’s other two remaining listed lenders, Allied Irish Banks Plc and Irish Life and Permanent plc, as they are now listed on the Irish stock exchange’s junior market, she said. Irish Life and Allied Irish are both more than 99 percent state owned.

Bank of Ireland is 15 percent state owned and only one of ireland’s six lenders guaranteed in 2008 to avoid majority state ownership.

The lifting of the ban is effective from midnight tonight.

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

To contact the editor responsible for this story: Louisa Fahy at lnesbitt@bloomberg.net


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