Irish Said Set to Get Central Bank Payment of About $2 Billion

(Bloomberg) -- The Irish state is set to receive a payment similar to last year’s 1.8 billion euros ($2 billion) from the country’s central bank, according to a person familiar with the situation.

The payment, which is likely to be in line with the last two years, will be made from the central bank’s earnings for 2016, said the person who asked not to be named as the information is private. The central bank declined to comment.

Details of the latest payment will probably be published with the regulator’s annual report on May 3.

Most of the central bank’s profits in recent years have stemmed from its sale of securities tied to the liquidation of the Irish Bank Resolution Corporation Ltd., which was set up to consolidate a number of institutions including Anglo Irish Bank Corp. into one entity during the financial crisis.

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net.