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

gerhard dengler

Well-known member
Feb 3, 2011
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 :confused:)

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:


Well-known member
Mar 12, 2005
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.

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.