http://www.moneyguideireland.com/irish-deposits-guarantee-after-september-2010.html Thu, 09 Feb 2012 09:11:58 +0000 hourly 1 http://wordpress.org/?v=3.2 http://www.moneyguideireland.com/irish-deposits-guarantee-after-september-2010.html/comment-page-1#comment-46469 What happens if the September 2008 Bank Guarantee is withdrawn? « Write To Them Now Sat, 18 Dec 2010 03:06:00 +0000 http://www.moneyguideireland.com/?p=891#comment-46469 [...] Money Guide Ireland gives a pretty good summary of the situation around the guarantee and how it affects depositors: (click the link for the complete article) For the majority of the general public with savings accounts the main points to note are these: [...] [...] Money Guide Ireland gives a pretty good summary of the situation around the guarantee and how it affects depositors: (click the link for the complete article) For the majority of the general public with savings accounts the main points to note are these: [...]

]]> http://www.moneyguideireland.com/irish-deposits-guarantee-after-september-2010.html/comment-page-1#comment-40854 Bailout deal to be agreed tomorrow. Cui bono? « NAMA Wine Lake Sat, 27 Nov 2010 13:03:46 +0000 http://www.moneyguideireland.com/?p=891#comment-40854 [...] Firstly I would suggest we need replace the term “bondholders”. As far as I can see there is still around €126bn of lending to the six State-guaranteed banks and if you examine the financial statements (all available under the new banks TAB by the way) you will see that some of the lending is through bonds, more through Medium Term Notes (MTNs), some Certificates of Deposit, some Commercial Paper. All of it is lending/investing but only some of it is literally bonds. In addition to this €126bn of private sector lending to the banks, there is also ECB and Irish Central bank lending which is now reportedly around €120bn, with €90-100bn from the ECB and the remainder from the Central Bank of Ireland. And the last main source of funds to the banks is depositors – commercial entities and retail (people’s normal savings) depositors worth some €198bn. If an Irish bank (except for the Post Office where savings were 100% guaranteed without restriction) had gotten into difficulties before September 2008 then only the retail depositors would have been saved and even then only up to €20,000 per person. [...] [...] Firstly I would suggest we need replace the term “bondholders”. As far as I can see there is still around €126bn of lending to the six State-guaranteed banks and if you examine the financial statements (all available under the new banks TAB by the way) you will see that some of the lending is through bonds, more through Medium Term Notes (MTNs), some Certificates of Deposit, some Commercial Paper. All of it is lending/investing but only some of it is literally bonds. In addition to this €126bn of private sector lending to the banks, there is also ECB and Irish Central bank lending which is now reportedly around €120bn, with €90-100bn from the ECB and the remainder from the Central Bank of Ireland. And the last main source of funds to the banks is depositors – commercial entities and retail (people’s normal savings) depositors worth some €198bn. If an Irish bank (except for the Post Office where savings were 100% guaranteed without restriction) had gotten into difficulties before September 2008 then only the retail depositors would have been saved and even then only up to €20,000 per person. [...]

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