Irish Lenders Transfer €12.2B Deposits

Irish lenders,Anglo Irish BankandIrish Nationwide Building Society, have transferred deposits totaling €12.2 billion,The Wall Street Journalreports. Anglo Irish transferred €8.6 billion toAllied Irish Banks(AIB), while Irish Nationwide transferred €3.6 billion of deposits toIrish Life & Permanent.

AIB, which paid around €3.5 billion for the deposits, will also receive seniorNational Asset Management Agencybonds with a value of €12.2 billion. Anglo Irish and Irish Nationwide are due to be merged as part of a winding up process, addsBloomberg.

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