Bank of Ireland has today, Tuesday 11 October, executed a €1.1bn bi-lateral secured term funding trade maturing in early 2015. Combined with similar trades executed during the summer, they provide the bank with €4bn of term funding with a weighted average duration of 2.4 years at a spread of 250bps over 3mth Euribor. As this is secured funding, it is not covered by the Irish Government Guarantee Scheme (ELG).
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