Investor Presentaiton

Strengths of Irish ACS Legislation Key Legislative Features of Irish ACS Robust collateral restrictions Mark to market cover pool Strong overcollateralisation (OC) Robust external monitoring Strict ALM requirements Clarity in event of bankruptcy Preferential claims Bank of Ireland Group Qualified deposits and EEA mortgages (BOIMB uses only Irish residential mortgages) LTV limits of 75% for liquidity purposes National CSO Residential Property Price Index updated monthly Requirement to incorporate changes quarterly, monitored externally Minimum contractual OC of 5% and minimum legislative OC of 3% Both legislative and contractual commitments on a prudent market value basis Cover-Assets Monitor (CAM) responsible for monitoring the cover pool and the ACS issuer's compliance with specific provisions of the ACS Acts Appointment of CAM approved by CBI Duration, interest and currency matching Interest rate risk control NTMA pre-defined manager of cover pool as a last resort ACS holders are preferred creditors in relation to the cover assets (ranking after the CAM and the NTMA and equally with the ACS hedge counterparties) 25

View entire presentation