"The Resolution of Anglo Irish Bank and Irish Nationwide Building Society"*1. Introduction [1] Of the banks that have received State aid during the financial crisis, few have received as much aid relative to their risk‑weighted assets as Anglo Irish Bank (Anglo) and Irish Nationwide Building Society (INBS). Both institutions failed on a massive scale following their speculative lending during the Irish commercial property boom and the onset of the financial crisis at the end of 2008. According to the Communication on the return to viability and the assessment of restructuring measures in the financial sector in the current crisis under the State aid rules [2] (Restructuring Communication), an orderly winding‑up should be considered for banks that cannot be restored to long‑term
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The EU Commission approves the joint restructuring of two Irish banks (Anglo Irish Bank / Irish Nationwide Building Society)
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