It is reported that one of the banks bailed out by the taxpayer during the financial crisis will fail a European stress test this weekend.

The Bloomberg news agency says Permanent TSB will fail the tests and need between 700 and 800 million in new capital.

However, the taxpayer shouldn't be left with the cost, under new rules agreed by the EU last year.

The Department of Finance won't comment on the story, but last week Michael Noonan said taxpayers would not be left on the hook: