Anglo Irish Bank has announced a €12.7bn (£11.4bn) loss in the 15 months to December 31 last year, the largest in Irish corporate history.
Some legislators have called for the bank to be wound up, but Irish finance minister Brian Lenihan said that cost the state an immediate loss of €30bn while also stumping up €70bn to cover the bank's liabilities.
Anglo intends to place €36bn in dud loans - the largest amount for any Irish bank - in the National Asset Management Agency (NAMA), the "bad bank" set up to deal with the crisis. Initially, Anglo will place €10bn in NAMA at a discount of about 50%.
Total government direct capital injections into Anglo now stand at €12.3bn, although it may still need €10bn more, Lenihan warned.
Other banks in Ireland have also been badly hit by the dramatic falling off of the 'tiger' economy.
Bank of Ireland, currently 15% government-owned but set to rise to 40%, reported a loss of almost €3bn for the first nine months of its financial year.
Meanwhile Allied Irish Bank (AIB) is set to press ahead with asset sales, putting its UK corporate banking business - plus a 70% stake in Polich lender Bank Zachodni and its 22% holding in American firm M&T - up for sale.
£300bn of liabilities
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