Follow @PoliticsIE
 
 
 
Results 1 to 2 of 2

Thread: Guaranteed Irish Banks : 42 Billion decrease in liabilities in one month?

  1. #1
    Politics.ie Member gerhard dengler's Avatar
    Join Date
    Feb 2011
    Location
    Utopia
    Posts
    47,431
    Mentioned
    2 Post(s)

    Default Guaranteed Irish Banks : 42 Billion decrease in liabilities in one month?

    The Central Bank of Ireland produce monthly figures showing the assets and liabilities of the guaranteed banks.

    In January 2013, the Central Bank shows that €427 billion of liabilities (yellow)
    In February 2013, the report shows that liabilities had fallen by €42 billion to €385 billion.

    €27 billion of this decrease applies to Irish Resident "Remaining Liabilities"
    (Jan 2013 = €49 billion, Feb 2013 = €22 billion )

    The other €15 billion decrease is made of reductions of liabilities to the Eurosystem (€5.5 billion) and reduction of liabilities to Monetary Financial Institutions (€4.1 billion), and a reduction of liabilities to Irish Resident Capital and Reserves (€4.5 billion).



    €27 billion decrease is curious, as to a lesser extent is the €5.5 billion, €4.1 billion and €4.5 billion decreases too.

    The only thing I can assume these decreases relate to is the liquidation of Anglo/IBRC.
    Last edited by gerhard dengler; 3rd April 2013 at 02:44 AM.
    Politics.ie moderators should moderate instead.
    Welcome to Political Irish | Political Irish

  2. #2
    Politics.ie Member
    Join Date
    Mar 2005
    Location
    Dublin
    Posts
    12,331
    Mentioned
    0 Post(s)

    Default

    The amounts are roughly right:

    Until January, IBRC had used the promissory notes as collateral for 39.75 billion euros ($51.79 billion) in ELA--euros lent by the Irish Central Bank at its own risk--with the permission of the European Central Bank's governing council.
    and

    As a result of the appointment of the Special Liquidator, the CBI became the economic owner of the promissory notes dated 22 December 2010 issued by the Minister for Finance to IBRC (€25.3 billion) and Irish Nationwide Building Society (€5.3 billion) (together, the "Promissory Notes") and the other IBRC assets held by the CBI as collateral for the Exceptional Liquidity Assistance Facility ("ELA Facility") provided by the CBI to IBRC.
    Never let the best be the enemy of the good.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •