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


gerhard dengler

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Joined
Feb 3, 2011
Messages
47,554
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:

ibis

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Joined
Mar 12, 2005
Messages
12,359
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.
 
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