Regulatory Capital

A&L Goodbody has market leading experience in advising our domestic and international clients on their regulatory capital requirements.

Our extensive client base puts us at the forefront of the Irish market, where we advise all the pillar banks in Ireland on their EMTN programmes, in addition to ongoing Tier 1, AT1, Tier 2 and MERL issuances. Our involvement in these transactions includes advising clients on programme launches and updates, the initial issuance of such debt issuances, together with advices regarding continuing obligations related to such issuances.

In addition to advising domestic clients, we also advise large international financial institutions and public traded entities on their liquidity and regulatory capital requirements. We have extensive experience in the areas of regulatory capital work, subordinated debt offerings and liability management exercises.


  • AIB, PTSB and Bank of Ireland

    in respect of their EMTN and ECP programmes and various Tier 1, Tier 2, AT1 and other debt issuances.

  • Bank of Ireland

    on its €975m AT1 issuances, €1.0 bn MERL issuance and its €15bn covered bond programme.

  • Zurich

    in relation to the accession of two Irish issuers to its EMTN and ECP programmes.

  • Santander

    in relation to its EMTN programme update.

  • AIB

    in relation to the issuance of €1bn and €750m green bonds under its Euro Medium Term Note Programme.

  • Ulster Bank Ireland DAC and Bank of Ireland

    on high profile liability management exercises in respect of legacy regulatory capital transactions.