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Thread: Central Bank : 50% of all SME Loans "in arrears"

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    Politics.ie Member gerhard dengler's Avatar
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    Default Central Bank : 50% of all SME Loans "in arrears"

    Fiona Muldoon, Central Bank director of Credit Supervision, has said that half of €50 billion of loans by banks outstanding to small to medium sized (SME) Irish firms are "not performing (are in arrears)" at present.

    Half of small business debt is impaired, says regulator - Irish Economy News & Headlines | The Irish Times - Thu, Apr 11, 2013
    Half of loans to SMEs are non-performing - RTÉ News

    I might well be wrong but this is the first time the Central Bank of Ireland has given indicative figures as to the level of loan performance for SME's.

    70% of all private sector employees work for SME's.

    The figure of €25 billion bank loans in arrears is a huge figure, and given the number of people employed in those companies the loan amount outstandin figure has to be having a knock-on effect with regard to trade debtors and trade creditors throughout the SME sector.

    Those SME trade debts represent another threat to companies in that sector.
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    Politics.ie Member Dublin 4's Avatar
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    You forget to stick Some "Recovery" in your Title ger

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    Two wheels on my wagon ...

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    Politics.ie Member Telemachus's Avatar
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    Forecast as of Apr 2013
    Source 2013 2014 2015 Total
    NERI 1% 1.2% 2% 2.22%
    ESRI 1.3% 2.3% NA%
    Central Bank 1.3% 2.5% NA%
    European Commission 1.1% 2.2% 2.80% 3.328%
    IMF 1.21% 2.2% 2.70% 3.437%

    Not to worry - we have some stunning GDP growth predictions for the coming years. Yah, right.petunia
    ..the Irish nation can become other than white, by privileging the voices of the racialised and subverting state immigration but also integration policies. – Ronit Lentin

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    Politics.ie Member gerhard dengler's Avatar
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    The level of arrears presents a threat to the SME companies who are in arrears.

    More worryingly Fiona Muldoon says that she cannot be sure if Irish banks have sufficient capital to account for losses on those loans, until the "banks work through their loanbooks".
    And there was me thinking that we had the "best capitalised banks anywhere in de world"

    PCAR anyone?
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    Politics.ie Member stopdoingstuff's Avatar
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    Deposit holders of Ireland: you have been warned.
    Faoi mhóid bheith saor

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    Politics.ie Member Dan_Murphy's Avatar
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    Quote Originally Posted by stopdoingstuff View Post
    Deposit holders of Ireland: you have been warned.
    Surely if the ECB has to come for Irish deposits they'll go for them anywhere in the EU? Just saying, our problems are much much larger than Cyprus. Short of buying a pile of gold and burying it in the garden what escape mechanism is there?
    Last edited by Dan_Murphy; 11th April 2013 at 11:08 PM.

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    Quote Originally Posted by Dan_Murphy View Post
    Surely if the ECB has to come for Irish deposits they'll go for them anywhere in the EU? Just saying, our problems are much much larger than Cyprus. Short of buying a pile of gold and burying it in the garden what escape mechanism is there?
    Back garden? I like it.
    Ask not what your country can do for you, but what your country can do for a bank

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    Politics.ie Member stopdoingstuff's Avatar
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    Quote Originally Posted by Dan_Murphy View Post
    Surely if the ECB has to come for Irish deposits they'll go for them anywhere in the EU? Just saying, our problems are much much larger than Cyprus. Short of buying a pile of gold and burying it in the garden what escape mechanism is there?
    Foreign bank accounts and other foreign assets.
    Faoi mhóid bheith saor

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    Politics.ie Member Dan_Murphy's Avatar
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    Quote Originally Posted by Expatriot View Post
    Back garden? I like it.
    Not my back garden of course, I am bad at remembering where I put stuff, can barely remember where my glasses are half the time.

    Can I bury it in yours? I'll need you to look after it as if it were your own!

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