PTSB, have had a survival plan with the EC for years now. The EC have still not approved it. The plan has been subject to much EC / DoF / IMF / ECB debate. The last official deadline for approval was 31 March 2014. I suspect this deadline might be missed again.
This week, Draghi, inadvertently, called into question the viability of PTSB as an entity in a letter to Michael McGrath.
Also, Noonan is known to be proposing to merge PTSB with Ulster Bank or KBC. There is no clear indication that RBS will definitely pursue this, although they have shown some initial interest.
Also, there is no clear intent as to what to do with the PTSB segregated bad bank. Nama? Certus?
The direction of the wind seems to be that either PTSB has to be acquired, merged or shut down. Soon. It seems that the DoF are doing all they can to avoid the shut down option. It seems that the EC / ECB are upping pressure for a speedy resolution of this lengthy saga.
PTSB need a white knight in the shape of RBS or KBC or private equity speedily.
It may be wise to keep deposits under the deposit insurance level of 100k until there is more certainty with regard to their future.