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Allied transferred loans to the national agency management of assets controlled by the State, with an average discount of about toxic debt holder 60pc at the nominal value of the debts.

Transfer came as a ratings agency Moody took five - notch decommissioning week last Irish sovereign debt with the decommissioning of most major financial institutions in the country.

Debt issued by Allied forces, Bank of Ireland, EBS Building Society and the lives of Irish & standing was marked by between three and five notches by Moody. Ratings agency said that more downgrades monitor and put a "negative" perspectives on debt banks.

?Moody provides that in the foreseeable future, the Irish banks are likely to continue to face very difficult conditions in the wholesale markets and will therefore continue to rely on the financing of the Central Bank?, said the agency ratings.

Downgrades come despite the pumping billion € of new capital in banks, but also another € will be used for emergency funding agreed the month last for a bailout package of €85bn Ireland by the European Union and the international monetary fund.

Irish banks were the largest individual borrowers in the euro area, and before the refloating had become increasingly more dependent of the European Central Bank (ECB).

By Ireland, calls have been for the country and its banks back their debts, and the Government is currently developing new legislation allowing politicians forcing losses on the holders of bonds in the processes of the burden-sharing.

The ECB position paper published last week said he had "serious concerns" about the implications of the new legislation.

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