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  1. #1
    robut robut is offline

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    Central Bank - 100bn deposit exodus from 'covered' six!

    Figures reveal €100bn deposit exodus from 'covered' six - Irish, Business - Independent.ie

    "..But yesterday's figures revealed the performance of AIB, Bank of Ireland, Permanent TSB, EBS, Irish Nationwide and Anglo Irish Bank as one group for the first time.

    The six 'covered' banks lost another 17bn in deposits in January, bringing the deposit exodus since the start of 2010 to just over 100bn."

    From what i heard recently 40bn went out last December alone?

    SO - we seem to have started the year nicely already with a 17bn outflow this January. Keep this up and we should well supersede the 100bn last year by end of this year.

    What goes out has to be put back in somehow? More ECB funds / bailouts / borrowings for us tax payers?

    Robut
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  2. #2
    macs magic macs magic is offline
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    Quote Originally Posted by robut View Post
    Figures reveal €100bn deposit exodus from 'covered' six - Irish, Business - Independent.ie

    "..But yesterday's figures revealed the performance of AIB, Bank of Ireland, Permanent TSB, EBS, Irish Nationwide and Anglo Irish Bank as one group for the first time.

    The six 'covered' banks lost another 17bn in deposits in January, bringing the deposit exodus since the start of 2010 to just over 100bn."

    From what i heard recently 40bn went out last December alone?

    SO - we seem to have started the year nicely already with a 17bn outflow this January. Keep this up and we should well supersede the 100bn last year by end of this year.

    What goes out has to be put back in somehow? More ECB funds / bailouts / borrowings for us tax payers?

    Robut
    So much for Kennys claim that an election would bring certainty.
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  3. #3
    daveL daveL is online now
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    Quote Originally Posted by macs magic View Post
    So much for Kennys claim that an election would bring certainty.
    oh shut the f^ck up.. this has nothing to do with Kenny or an election
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  4. #4
    Spanner Island Spanner Island is offline
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    Quote Originally Posted by robut View Post
    Figures reveal €100bn deposit exodus from 'covered' six - Irish, Business - Independent.ie

    "..But yesterday's figures revealed the performance of AIB, Bank of Ireland, Permanent TSB, EBS, Irish Nationwide and Anglo Irish Bank as one group for the first time.

    The six 'covered' banks lost another 17bn in deposits in January, bringing the deposit exodus since the start of 2010 to just over 100bn."

    From what i heard recently 40bn went out last December alone?

    SO - we seem to have started the year nicely already with a 17bn outflow this January. Keep this up and we should well supersede the 100bn last year by end of this year.

    What goes out has to be put back in somehow? More ECB funds / bailouts / borrowings for us tax payers?

    Robut
    According to the article, three quarters of January's deposit fall could relate to accounting manoeuvres and intra-group transfers between Irish banks, which apparently aren't "netted off" in the data..." so the real figure is a lot less than 17 billion...

    It also claims deposits from outside the euro area were by far the most volatile over the past three months, down from 154bn in early 2010 to 88bn at the end of January 2011...

    I'd like to know the figure for foreign deposits pre-bank guarantee - because once that was given wasn't there a flood of deposits flowing into Irish banks?
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  5. #5
    Sensible Head Sensible Head is offline
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    "The rise comes as the banks embark on a short-term project of issuing government-guaranteed bonds to themselves so they can access ECB cash."

    Bit of a shell game really isn't it ?

    The big lads are taking their money out bit by bit each month and we(via loading onto the state) are covering their asses? Presumably this is just conforming to rules about the cash they have to keep?

    How much is depositied in the six? IF there was a real run on them.Which I doubt.

    Edit 225bn Irish deposits
    Last edited by Sensible Head; 1st March 2011 at 11:54 AM. Reason: Added Irish deposit fig.
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  6. #6
    DownTheyGo DownTheyGo is offline
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    Quote Originally Posted by Spanner Island View Post
    According to the article, three quarters of January's deposit fall could relate to accounting manoeuvres and intra-group transfers between Irish banks, which apparently aren't "netted off" in the data..." so the real figure is a lot less than 17 billion...

    It also claims deposits from outside the euro area were by far the most volatile over the past three months, down from 154bn in early 2010 to 88bn at the end of January 2011...

    I'd like to know the figure for foreign deposits pre-bank guarantee - because once that was given wasn't there a flood of deposits flowing into Irish banks?
    There was a huge surge in ECB lending latter part of February. No one seemed to know where the funds were lent. After a few days speculation, it was revealed the funds were pumped into the Irish system, again! The biggest surge in ECB overnight lending for couple of years. What left in Jan has been replaced with ECB providing the liquidity.
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  7. #7
    DownTheyGo DownTheyGo is offline
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    Also, keep in mind, Anglo & INBS no longer hold deposit books - down to the big four now or whatever.
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  8. #8
    robut robut is offline

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    Quote Originally Posted by Spanner Island View Post
    According to the article, three quarters of January's deposit fall could relate to accounting manoeuvres and intra-group transfers between Irish banks, which apparently aren't "netted off" in the data..." so the real figure is a lot less than 17 billion...
    I think what they are referring to there is last fridays shenanigans - This "Auction" that AIB "Won".

    AIB "bought" 8.5bn in deposits from Anglo & 20bn bonds from NAMA - for this AIB paid 3.5bn. One would need to do some forensic accountancy to figure out what this all actually means in terms of who wins / losses on that deal.

    Robut
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  9. #9
    Harmonica Harmonica is offline

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    Why would any one leave large sums of money in Irish banks? Its increasingly looking like Irish banks now just have small deposits & ECB/Central Bank money left. I don't know if the new government can easily fix this but nothing the FF/Greens did since Sept 2008 has cured the Irish banks.
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  10. #10
    macs magic macs magic is offline
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    Quote Originally Posted by daveL View Post
    oh shut the f^ck up.. this has nothing to do with Kenny or an election
    Are you uptight because i mentioned Enda the lion?

    Of course it has something to do with him.Governments are meant to bring confidence.Bloomberg Are reporting its uncertain what the new Government is going to do on the banking front.That doesnt send out a good message.

    If i had money here from abroad,it would be away to the UK or Germany
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