, it can reflect the fact that the actual health of banks was better than expected or that the program succeeded in coordinating bank rescues without public expenditures via private investment. Across countries, it appears that the average uptake on capital injections (49%) is higher than for debt guarantees (18%), where some countries such as Canada or Italy have seen zero participation, -up will be low, because the government plan is inappropriate or highly conditional and thus unattractive for banks, 2009.

, The only bank to refuse government participation was Irish Life and Permanent

, New Ireland Assurance, and Clients of Allied Irish Banks Investment Managers, which are part of Irish Life Permanent, Bank of Ireland, and Allied Irish Banks, respectively. Because all three had been under government control and guarantee by 2011, the debt of NAMA is considered as government debt entirely, The private investors are the pension fund managers Irish Life Investment Managers, 2011.

, For further information, see www.nama.ie

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, Two of the failing Icelandic banks-Landsbanki and Kaupthing-had U.K.-based business and a large U.K. depositor base. To protect the assets of U.K. depositors, the government issued a freezing order on, 2008.

, Laser Cofinoga, RCI Banque (Groupe Renault), S2Pass (Groupe Carrefour), and VFS Finance (Volvo). GMAC had originally signed the SFEF agreement but did not request liquidity support, These institutions were mainly housing and consumer credit institution, often the financial activity branches of large industrial groups: PSA Finance

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