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Irish banks may need 27.5 billion euros more aid

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Ireland’s government may have to inject an additional 27.5 billion euros into the country’s banks after a third round of stress tests next week, according to a survey of analysts and economists. That will exhaust about 80 percent of the 35 billion-euro fund set up last year in Ireland’s international bailout to shore up the country’s lenders, according to the median estimate of 10 analysts and economists surveyed by Bloomberg News.

Ireland, which has injected 46.3 billion euros into its banks over the past two years, will on March 31 publish the results of the tests, which examine how banks would manage bad loans and losses from forced asset sales. Matthew Elderfield, the country’s top financial regulator, pledged this week the assessment would be more “conservative” and transparent than the last two rounds. Irish banks still are still dependent on emergency central bank funding after their loan losses exceeded the estimates of previous stress tests.

Source: Bloomberg

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