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BoI bond exit

The Bank of Ireland has cited “procedural difficulties” as the reason it withdrew a heavily discounted bond offer in exchange for cash or equity to investors, which would have seen some investors receive just 20 per cent of the value of their bonds. It will make a new offer at a later date.

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Tyrie: 10 questions the ICB must answer

Treasury select committee chairman Andrew Tyrie has set out 10 questions he says the Independent Commission on Banking should answer in its final report. Speaking at the British Bankers’ Association international banking conference in London yesterday, Tyrie (pictured) said the questions needed to be answered to ensure transparency in the debate over structural reform of […]

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Leader

The Dilnot Commission’s report into long-term care funding offers the Government a great opportunity to reform the market that it would be ill-advised to ignore. Proposals to cap an individual’s LTC liabilities will come at a cost to the Treasury but a failure to act will cost the country far more in the long run. […]

Ex-Skandia chief to head insurance unit at FSA

Advisers have welcomed the appointment of former Skandia UK chief executive Nick Poyntz-Wright to lead the FSA’s life insurance department. Poyntz-Wright, who will join the regulator on September 1, will report to Clive Adamson who heads the supervision division in the regulator’s conduct of business unit. An FSA spokesman says Poyntz-Wright’s appointment follows a restructure […]

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