Finance Minister Brian Lenihan says that Irish Nationwide Building Society needs another €2.7 billion, bringing its total bailout to €5.4 billion.
He said that the building society is now under public control and arrangements for its sale or integration into another institution are being advanced in discussions with the state and the European Commission.
The Minister said he has asked the National Treasury Management Agency and his advisors to explore options for the society and to bring 'finality' to the position.
'This further capital investment by the state will reassure depositors in the institution that all deposits remain secure,' he added.
