Banks capital is to be increases to 12%

Dreaded_Estate

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- Just reported on RTE news at 9

Banks capital increased from 8% to 12%.

BOI will become majority state controlled.
 


sport02

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Apparently we are getting 85 billion AT INTEREST RATE OF 7%.

This is a disaster we have just crippled ourselves more than the Greeks did, they got it at 5%
 

hmmm

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Bank funding is a loan that should be paid off by the banks' assets (their mortgages). It's not correct to interpret it as direct government debt, although that's what it will be classified until it is repaid.

I didn't hear a rate mentioned.
 

Partizan

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Apparently we are getting 85 billion AT INTEREST RATE OF 7%.

This is a disaster we have just crippled ourselves more than the Greeks did, they got it at 5%
€85 billion into a hole and another €85 billion to be foistered onto the tax payer. What's €85 billion between friends?

To hell with this, I am as angry as hell. I have had enough. Next Saturday be there at the ICTU protest and on 3pm on the 7th December outside the Dail with your pots and pans.

Tell Zanu FF that you will not take enslavement lying down :mad:
 

HarshBuzz

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Bank funding is a loan that should be paid off by the banks' assets (their mortgages). It's not correct to interpret it as direct government debt, although that's what it will be classified until it is repaid.

I didn't hear a rate mentioned.
hmmmm, if you don't understand the difference between funding and capital, it's probably best to shut up

12% is massive drag on the banks, still maybe not enough in any case
 

ONQ

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What started the current disaster was the BIS bringing the banks to the 8% limit which they had slitered away from using various interests.

Overnight several banks in the states were technically bankrupt.

12% Capital ration and 7% interest charge simply cannot be borne.

"I'm mad as hell and I'm not going to take this any more!"

I'll be marching with Jim Corr from Wood Quay on Saturday at 11am.

ONQ.
 

Dreaded_Estate

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Rough calcs but unless we do something on the recap price I think BOI could end up as 80% state owned.
 

corelli

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There was no interest rate mentioned.
 

Boy M5

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We need a functioning banking system - hence the guarantee.
Sadly because of the guarantee - the state is inextricably tied to the banks.


Now the over-capitalisation is required to reflect the non existent basic banking skills / controls in Irish banks resulting in ludicrously inflated balance sheets & record bad debts.

Basel III capital requirement rules means that internationally banks are in a competition to be future proof through over-capitalisation, so our banks have to be even more over capitalised & so somehow get credibility to be directly funded from the inter-bank markets.

The state now controls the banking system through NAMA, Anglo, AIB & BOI. This is Soviet style commanding heights banking.
The state should now kick the well upholstered ass of Richie "Banker to Sean Dunne" Boucher from BoI out onto Baggott St. He is supposedly the only person who is capable of running BoI.

This is just like a bad horror movie where the scenarios just worsen.
 

corelli

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Rough calcs but unless we do something on the recap price I think BOI could end up as 80% state owned.
The RTE economics editor speculated, lunchtime, that the percentage stake in BOI would actually be 85%.
 

sport02

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€85 billion into a hole and another €85 billion to be foistered onto the tax payer. What's €85 billion between friends?

To hell with this, I am as angry as hell. I have had enough. Next Saturday be there at the ICTU protest and on 3pm on the 7th December outside the Dail with your pots and pans.

Tell Zanu FF that you will not take enslavement lying down :mad:
I posted this on another thread.

Remember the lying Greeks that fiddled their books got a rate of 5%, and the better behaved Irish that have done everything they have been told, get 7%who the bloody hell was negogiating for us.

PAUL SOMERVILE BASICALLY SAID HE WOULD PUT HIMSELF FORWARD WITH DAVID MCWILLIAMS WHO HAS WORKED IN THE ECB.

WE ARE SCREWED, WE ARE ABSOLUTELY SCREWED.


FF have done us a massive injustice, time for pots/pans/whistles, march on mass, and kick these inemptitudes out of goverment.
 

Boy M5

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Remember the lying Greeks that fiddled their books got a rate of 5%, and the better behaved Irish that have done everything they have been told, get 7%

Well worth repeating
 

Franzoni

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This is a load of bollix....we have done everything they asked us to do and were getting screwed and the greeks get away with it even though the worst that was said to them the other day was "try harder" to hit their targets....

If Cowen and the rest of these gangsters sign up to it there will be F*****G MURDER...

Pots and pans my backside.....:rolleyes:

the time for well behaved is over.....
 

corelli

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I have found Brian Lucey and Constantin Gurdgiev to be more informed, that chat on Gurdgiev twitter is IMF/ECB loans at 7%
Perhaps. There is no confirmation of it. Just keep your hair on, pro tem. :)
 

Chrisco

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I think Noonan said this evening in the Dáil it was going to be 7%.
 


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