Aynsley: 'good bank' plan

ANGLO Irish Bank will this week unveil another multi-billion euro loss requiring a further drawdown of the government's capital injection.
The crippled bank, which lost a record €12.7bn in 2009, is due to publish its results for the first six months of the year on Tuesday.
The bank lost €4.1bn in the first half of its previous financial year. The new loss is set to be on a similar scale following the huge write-down on the loans it has transferred to Nama.
In the first batch of loans sent to Nama, Anglo was forced to take a 55% hit on the €4bn property portfolio it moved to the agency.
In the second tranche of loans going to Nama, Anglo suffered a €4.1bn hit, but as the transfers were completed only this month, the bank is unlikely to make a loan-loss provision for them until later in the year. The bank is also likely to have suffered substantial losses on its non-Nama loans.
The ongoing losses mean the bank will require a further injection of capital from the government. The bank has already received about €14.3bn of the €24.3bn the government has promised to it so far.
Credit ratings agency Standard & Poor's last week said the ultimate cost to taxpayers for cleaning up Anglo Irish may be as much as €35bn.
The bank declined to comment.
Anglo's chief executive Mike Aynsley earlier this month blamed the previous management for the "carnage" suffered by the bank, saying they must "bear blame and responsibility" for its current situation.
Aynsley has previously said that much of the cash poured into Anglo Irish will never be recouped. He said the best chance to recover some of the money is to hive off Anglo's better loans into a new bank.
The European Commission is expected to make a decision on the plan to split Anglo into 'good' and 'bad' banks next month.