Update 6.40pm: A senior executive at Anglo Irish Bank said that the plan to source a funding shortfall from another bank grew from €1bn to €7bn in the weeks leading to the bank's year end, writes Sarah-Jane Murphy. Former CEO of Anglo Irish Bank, David Drumm (51), with an address in Skerries, Co Dublin, leaves the Dublin Circuit Criminal Court today. Mr Lynch said that despite the “pretty bad times” at Anglo in 2008, Mr Drumm had indicated that he wanted a year end figure of €55/56bn in customer deposits. Asked who came up with this figure, he told Mary Rose Ms Gearty SC, prosecuting, that Mr Drumm was never specific about “the target figure” that needed to be sourced. He said the commercial rationale for the transactions was to “put up a higher customer funding figure”, replacing interbank funding with customer funding.

Source: Irish Examiner February 15, 2018 18:33 UTC