As the failure of Lehman precipitated the acute phase of the crisis, the ECB acted decisively again, taking several measures to protect against a disorderly correction in credit and liquidity conditions for the euro area.
Bank of Ireland proceeded immediately to raise capital from the  4  In order to allow the banks to continue to fund themselves as deposits and bonds matured during the two-year period of the initial guarantee, a further more limited guarantee (known as ELG) on new deposits and bonds was provided by the Government from late 2009.