The higher capital ratios have been achieved partly through the sale of sizable non-core assets at prices above book as well as by the acquisition of equity stakes by the National Pension Reserve Fund and (in the case of Bank of Ireland) by the private sector.
Scale of losses dealt with by the capital injections I’m not sure that it is widely recognized just how big the actual and prospective loan-losses taken account of in the recapitalization of retail banks in Ireland has been.