SOURCE: The Bedford Report

The Bedford Report

November 23, 2010 08:46 ET

Irish Banking Collapse Has Far Reaching Effects

The Bedford Report Provides Analyst Research on The Governor and Company of the Bank of Ireland & The Royal Bank of Scotland

NEW YORK, NY--(Marketwire - November 23, 2010) - On Sunday Ireland became the second euro zone country to ask for aid and will officially begin talks with the European Union regarding a bailout that could reach $110 billion. The talks are expected to focus on the restructuring of the country's banking system as well as the government's deficit cutting plans. The news was met with skepticism with investors questioning whether an Irish bailout would be enough to restore financial stability in the Euro Zone. Irish Banks plummeted on the news, as did UK Banks with large Irish loans. The Bedford Report examines the outlook for companies affected by the Irish bailout and provides research reports on The Governor and Company of the Bank of Ireland (NYSE: IRE) and The Royal Bank of Scotland Group (LSE: RBS.L). Access to the full company reports can be found at:

Shares of The Governor and Company of the Bank of Ireland fell more than 16% yesterday as investors appear concerned that bank shareholders are of little priority following a bailout. According to reports from The Wall Street Journal, Irish government officials said the banks will need more capital as part of the country's massive bailout package. Government officials say the banking sector will face downsizing that will likely see a series of asset sales intended to reset the industry to its core function of serving the local market. The report warned that this could potentially leave shareholders with a fraction of their investments.

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Royal Bank of Scotland has a reported GBP54.4 billion in exposure to Ireland and is viewed as having the most exposure to Ireland. This stat helped cause the stock to lose close to 5% yesterday.

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