The European Commission approved, under EC Treaty state aid rules, an emergency recapitalisation worth €4 billion that the Irish authorities intend to grant to Anglo Irish Bank.

The measure constitutes an adequate means to remedy a serious disturbance in the Irish economy while avoiding undue distortions of competition and is therefore compatible with Article 87.3.b. of the EC Treaty, as explained in the Commission's guidance on state aid to banks during the current financial crisis. In particular, the measure is limited in time and contains adequate safeguards to minimise distortions of competition. The aid is approved as a temporary rescue measure and Ireland has committed to submit a restructuring plan for the bank until the end of November 2009.

On 29 May 2009 the Irish authorities announced their intention to recapitalise Anglo Irish Bank with €4 billion. On 15 June 2009, they formally notified this measure to the Commission.

The bank branches are located in Ireland, UK, Isle of Man, Austria, Germany and Jersey in the US.