View more on these topics

Ireland confirms €24bn bank funding hole

Ireland’s four main banks have a €24bn gap between their current and ideal capital positions, the Financial Measures Programme Report has concluded.

Announcing the results of its banking stress test, the Central Bank of Ireland says that Allied Irish Banks, Bank of Ireland, EBS and Irish Life & Permanent will have until 2013 to build the required reserves.



AIB has been asked to contribute €13.3bn to the total and BOI will add €5.2bn. EBS is required to build up €1.5bn, while ILP is to contribute €4bn.

Estimating how this will affect each bank’s loans-to-deposit ratio, the report says AIB’s will move from the 3.7 per cent held in December to 21.9 per cent, with BOI’s increasing from 9 per cent to 16.1 per cent.

EBS, on the other hand, will rise from 8 per cent to 22.6 per cent and ILP’s will be lifted from 10.6 per cent to 32.4 per cent.

Recommended

13

Chris Gilchrist: Most networks will become restricted

The white flags are going up. As I predicted last year, national adviser chains are giving up on the notion of operating as IFAs after 2013. Barclays has shut down its high street IFA arm. Buckles boss Nigel Speirs says operating as an IFA is just too expensive. How long before other big operators haul […]

2

Can advisers afford to shun investment trusts?

Investment trusts have had their fair share of critics over the years and have struggled to win over advisers and retail investors. One of the criticisms is they are of a bygone age although one old warhorse, it would seem, has proved many critics there is life in them yet. Witan is finally back on […]

Govt plans new £155 flat rate state pension

The Government is set to unveil plans for a new flat rate state pension worth at least £155. The full proposals will be published next week, the BBC has reported. It is thought that increases linked to inflation will push up the means tested guaranteed pension to around £155 over the next few years. Currently […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com