A €11.5 billion ($14.5 billion) central bank loan to keep Anglo Irish afloat was secured on collateral that the European Central Bank (ECB) would have rejected.
The Annual Report of Anglo Irish Bank, a lender that is now in state hands, published earlier this year revealed that the bank had secured a €11.5 billion loan from the Central Bank & Financial Services Authority of Ireland. The report stated that the funds, part of a master loan repurchase agreement, were secured against collateral with
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