European first for Bank of Ireland securitisation executed in challenging credit conditions |
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An example of the reaction of the Irish capital markets to the credit crisis was the innovative Bank of Ireland Value in Force Securitisation last October which was a regulatory capital transaction conducted within the parameters of boosting regulatory capital, while employing a securitisation to do so, and one in the complex area of life assurance, requiring the tailoring of the deal to regulatory requirements regarding the treatment of embedded life assurance value. |
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