Bank of Ireland H1 2020 Credit Presentation
Corporate Structure
Holding company
Bank of Ireland Group plc (BOIG)
Bank of
Ireland
100%
Bank of Ireland H1 2020 Credit Presentation
AT1
Tier 2
Senior unsecured
Capital / MREL
Operating subsidiaries
100%
The Governor and Company of the Bank of Ireland (GovCo)
Bank of
Ireland
100%
New Ireland Assurance
Company plc
Bank of Ireland Mortgage Bank (BOIMB)
NEW IRELAND
Securing your future
Bank of
Ireland
→ Senior unsecured
100%
Bank of Ireland (UK) plc
Bank of
Ireland
Funding
32
32
•
•
•
Irish Covered Bonds (ACS)
UK
RMBS
Preferred resolution strategy for the Group consists of a Single Point of Entry (SPE) bail-in strategy through the Group holding company
(BOIG)
Transparent and well-defined resolution strategy in comparison to other jurisdictions
BOIG introduced on top of the existing group structure supporting an SPE preferred resolution strategy
No change to any of the Group's existing operating companies
Bail-in at BOIG is the primary resolution tool. MREL requirements are expected to be met through junior and senior issuance from BOIG
Losses are passed to BOIG by the write-down of intragroup assets. BOIG investors bear loss in accordance with the resolution² hierarchy.
Resolution authorities required to apply the "No creditor worse off" principle in application of the bail-in tool
Funding requirements may also continue to be met, as required, through the issue of Irish Covered Bonds (ACS) by Bank of Ireland
Mortgage Bank, Residential Mortgage Backed Securities (RMBS) by Bank of Ireland (UK) plc and senior unsecured issuance by GovCo
1 100% shareholding via intermediate holding company
2 Per Regulations 87 and 96 of the European Union (Bank Recovery and Resolution) Regulations 2015
Bank of IrelandView entire presentation