【出版时间及名称】：2010年1月爱尔兰银行业研究报告
        【作者】：摩根斯坦利
        【文件格式】：pdf
        【页数】：50
        【目录或简介】：
Options on recapitalization and recovery: Given the
uncertainty over macro conditions, final NAMA terms,
EU state aid remedies, funding and the potential impact
of Basel III on core tier 1 targets, there are many
potential outcomes for Irish banks, prompting investors
to view the stocks as high-risk. We attempt to narrow the
range of outcomes and assume a gradual macro
improvement, NAMA transfers by 3Q10 at 30% haircuts
and government support for capital raisings. We
conclude that a case can be made for investing in Irish
banks and we initiate coverage on AIB with an
Overweight (PT