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Losses suffered by banks in the crisis as a percentage of RWAs (2007- 2010)

Losses suffered by banks in the crisis as a percentage of RWAs (2007- 2010)

As published in today's Independent Commission on Banking - final report

Anglo Irish Bank expects to report a loss of €17.6 billion for 2010, setting a new record in Irish corporate history

(9 February 2011) The spectacular figure exceeds the €12.8 billion Anglo lost during the 15 months to the end of December 2009 and compares with the €31.75 billion that was Ireland’s total tax take during 2010. During the year the State pumped an extra €17 billion into the now nationalised bank. The bank issued unaudited figures for its 2010 performance yesterday that showed its customer deposits dropped by almost 60 per cent, to €11.1 billion, from the €27.2 billion that was on deposit at the beginning of the year.

Ireland Puts Price on Anglo Irish; Deficit at 32% of GDP

Ireland's central bank has put a 34 billion euro price on bailing out stricken Anglo Irish Bank under a worst case scenario and said Allied Irish Banks needs to raise an additional 3 billion euros by the end of the year. The country's budget deficit will balloon to 32 percent of gross domestic product this year, but Ireland aims to cut it to the European Union-agreed 3 percent by 2014, the Finance Ministry said.

Ireland's Burial Plan for Anglo Irish Keeps Cost Question Alive

Irish Finance Minister Brian Lenihan’s plan for “finality” on the cost of bailing out Anglo Irish Bank Corp. has left one question alive: The cost. Lenihan said yesterday that Dublin-based Anglo Irish will be split into a so-called good bank, which will retain the lender’s deposits, and an asset-recovery bank, which will run down its loans over time. The central bank will determine by October how much new capital will be needed.

Dublin roundup - its awful

Anglo seizes assets of Kelly company

Sheehy takes with him longstanding AIB chairman Dermot Gleeson and finance director John O’Donnell, leaving a sizeable power vacuum at the top that will be filled, for the time being, by new chairman Dan O’Connor, a respected former senior executive with finance giant GE Capital - and a potential replacement as chief executive. O’Connor was once touted as a potential chief executive at Bank of Ireland.

The departure of AIB’s top triumvirate will satisfy those who had called for heads, but will do little to solve AIB’s mounting problems which, in any event, have increasingly become a matter for the Department of Finance, since the bank was wrapped in the cotton wool of the government guarantee scheme last September.

The NTMA (Ireland) and NAMA (The Bad Bank) - The Matter of the Pricing of Imparied Assets.


Breakfast at Lemon, Dawson StreetThe concern of my taxi driver in Dawson Street the other night was that both the US and UK authorities had considered the bad bank proposition and dismissed it, however Ireland has gone headlong for that strategic approach, "ah well" (he said) "sure, if they get this bit wrong in Leinster House, then we are all (bleep bleep)!!"

NAMA (the National Asset Management Agency) was first proposed in a report prepared for the Irish NTMA (National Treasury Management Authority) by Dr. Peter Bacon (apparently known as 'Rasher' to his friends). NAMA is the formal title of 'the Bad Bank of Ireland'; the original report (abridged version) which is interesting in its practical 'business-like' perspective, addressing the arithmetic of valuing impaired assets transferred from a banking system to a government vehicle & the implications therof on the capital position of the banks and on the consequent freedom or otherwise of the property market is available on the NTMA site here;- http://www.ntma.ie/Publications/2009/NAMAsummary.pdf


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