High Court approves Anglo deposit transfer
The High Court has approved the immediate transfer of €13bn worth of deposits from Anglo Irish Bank and Irish Nationwide as part of the wind-down of each institution.
AIB will receive deposits of €7.1bn from Anglo Irish Bank, as well as senior bonds issued by NAMA worth €12.2bn.
Around €4bn of Irish Nationwide deposits will be transferred to Irish Life and Permanent.
The Central Bank said that anyone with a deposit in Anglo or Irish Nationwide can continue to do business as normal with both.
The Department of Finance has also confirmed that depositors are protected by the Bank Guarantee and the Deposit Protection Scheme.
AIB said the transfer represents a "significant and positive step" to improve AIB's liquidity and to reduce its loan to deposit ratio.
