Staff at the former Anglo Irish Bank - now known as IBRC - are to get additional redundancy payments from a fund set up by the special liquidators worth €5 million.
The average payment will be €15,000.
The additional payments will only apply to around 400 staff, earning less than €120,000. Employees with less than two years service will get a lump sum of €2,000 each.
Those with between two and 10 years service will get a lump sum of €15,000 each, while workers with service in excess of 10 years will receive €18,000.
Staff initially were told they would only entitled to statutory redundancy and lobbied hard for an increased compensation package after the defunct bank was liquidated by the Oireachtas.
Bank staff will have to ballot on the payout. The deal has been welcomed by the union representing bank staff, the IBOA.
"A very successful outcome"
The liquidators also say that they expect the proceeds raised from the sale of IBRC assets will be sufficient to fully repay the IBRC debt to NAMA.
Kieran Wallace and Eamonn Richardson of KPMG say they have informed the Minister for Finance.
The State funding of IBRC was transferred from the Central Bank to the National Asset Management Agency (NAMA) when the bank was placed in special liquidation.
However following instructions from Finance Minister Michael Noonan, NAMA will not now be obliged to purchase unsold IBRC assets at their independent valuation - as was previously thought.
The special liquidators say will contact borrowers in the coming weeks, whose loans were not sold in previous loan sales processes to update them on the plans.
Commenting on the full expected repayment of the NAMA debt, Minister Noonan said "This is a very successful outcome for the taxpayer and reinforces the decision taken to resolve the promissory note arrangement last year".
"All debt outstanding to NAMA as part of the promissory note transaction is now expected to be repaid in full. This means that no further assets will require transfer to NAMA thereby finally breaking the link between the State and the former Anglo Irish Bank" he added.
Newstalk's Business Editor Ian Guider told Lunchtime the end is now in sight for Anglo and IBRC.
