AIB and BOI may need extra €9bn in capital

Stark

http://www.rte.ie/news/2009/1009/banks.html

Feck This is on top of NAMA as well I presume. With the country struggling to make 4bn in savings, where's this money going to come from?

Nate--IRL--

Stark wrote: »

http://www.rte.ie/news/2009/1009/banks.html

Feck This is on top of NAMA as well I presume. With the country struggling to make 4bn in savings, where's this money going to come from?

It'll come from Mr.Taxpayer. He's always good for a few quid. He'll just have to remortgage the country with the ECB first.

Nate

Amhran Nua

Stark wrote: »

http://www.rte.ie/news/2009/1009/banks.html

Feck This is on top of NAMA as well I presume. With the country struggling to make 4bn in savings, where's this money going to come from?

Ah sure why not, thats another three years operational profit where they won't have to lend. Think of the savings on the paper used to print loan application forms!

Dannyboy83

http://www.rte.ie/news/2009/0529/angloirish.html


Anglo Irish Bank has written off €308m in relation to loans to ten 'longstanding clients', who then used the funds to buy shares in the bank.
The ten individuals who borrowed the money subsequently became known as the 'Golden Circle'.
The total amount of money lent to the 'Golden Circle' was €451m - but the bank may not get €308m of that money back.

==

Remember this?

It seems that AIB and BOI are abusing us in the exact same way.

Is there actually a limit set in place?
Or can they just constantly raise the bar?

Do Fianna Fail have a threshold?

Sponge Bob

Stark wrote: »

http://www.rte.ie/news/2009/1009/banks.html

Feck This is on top of NAMA as well I presume. With the country struggling to make 4bn in savings, where's this money going to come from?

NOT FORGETTING another €5bn for Anglo lads , make that €14bn at least.

And I hear the credit unions have made a strong case for €2bn on equity and competition grounds .

Make that €16bn so + whatever EBS and Nationwide and the Permo want too.

Dannyboy83

Sponge Bob wrote: »

NOT FORGETTING another €5bn for Anglo lads , make that €14bn at least.

And I hear the credit unions have made a strong case for €2bn on equity and competition grounds .

Make that €16bn so + whatever EBS and Nationwide and the Permo want too.

So whats that then, another €20 billion?
And thats only today, what about next year?

Any alarm bells ringing there Mr.Lenihan?

Amhran Nua

Dannyboy83 wrote: »

So whats that then, another €20 billion?
And thats only today, what about next year?

And then we have the budget deficit.

Boskowski

Stark wrote: »

http://www.rte.ie/news/2009/1009/banks.html

Feck This is on top of NAMA as well I presume. With the country struggling to make 4bn in savings, where's this money going to come from?

This is a load of bollix.

Where do they get this from, for instance?

" The report says not all of this money will be needed immediately, but the two banks should avail of the current appetite in the market for bank recapitalisations 'at the earliest possible opportunity'. "

What sort of wording is that? And who has any appetite for 'bank recapitalisations' anyway?

Certainly not me. And I'm sure my 3 million fellow taxpayers aren't exactly overexcited either.

AIB and BOI can go and fvck themselves

Hydrosylator

Nate--IRL-- wrote: »

It'll come from Mr.Taxpayer. He's always good for a few quid. He'll just have to re-mortgage the country with the ECB first.

And if the ECB stops bailing us out, we could have a Bord Snip/NAMA/IMF clusterf*ck to look forward to.

Idbatterim

what would the consequence of letting them all go to the wall be and operating a state bank? i think its ridiculous they can profiteer during the boom and just milk the system during the bust!

BOHSBOHS

and not a jobcut or paycut in either bank

even talk of payrises in AIB !!!

Liam Byrne

I only need an extra €9,000 in capital.....who's going to give it to me ?

If I hear about AIB even contemplating this I'll be moving my account, and I'd advise everyone with accounts in these two banks to do likewise - that'd teach them!

Shower of ****ing **** wouldn't even HAVE a business if we hadn't come to their rescue, now they're being complete leeches.......

thebman

Just paying for everyones deposits is going to look like it would have been a bargain by the time this finishes it seems

Diarmuid

Hands up here anyone who didn't see this coming? ....
Anyone with their hands up, I recommend you start reading this.

ei.sdraob

Amusingly enough a manager of one of these banks rank me offering a mortgage only a few days ago :eek:

tax money hard at work....

NewDubliner

ei.sdraob wrote: »

Amusingly enough a manager of one of these banks rank me offering a mortgage only a few days ago :eek:

Once you take it, his bank will be lobbying to have your wages cut.

Long Onion

I can't say it surprises me at all to be honest, AIB and BOI are both going to swallow money for a while to come. That said, both institutions both recently raised considerable funds from investors through bond sales which were well oversubscribed - this is the appetite for recapitalisation that is being referred to.

This is the reason that I was sceptical of the true vaule of nationalisation - should the two banks raise another 2bn each in bond sales, this is a total of €8bn that the tax payer has avoided by not nationalising - had we nationalised the banks, this would have come from the tax payer.

The article is very light on substance as well, with the sums that are being talked about with NAMA, I find it very hard to believe that this €9bn would be needed in addition to the government bonds which will be issued. If the €9bn is indeed on top of the NAMA funds, how did they manage to arrive at such a precise figure given the fact that the main objection to NAMA is the fact that no-one knows how the loans will be valued?

This reminds me of the ratings agencies - a law unto themselves, they operate along the same principle outlined in my signature. If they can't prove that they are actually basing their opinions on solid reason, they should be kept away from the media.

Dannyboy83

Just noticed I've started suffering new bank charges.:(

Total Urine extraction.

dresden8

Dannyboy83 wrote: »

Do Fianna Fail have a threshold?

No they don't.

Cowen has said he will write any cheques necessary to save the banks.

ghost_ie

dresden8 wrote: »

No they don't.

Cowen has said he will write any cheques necessary to save the banks.

He did. And he and the ministers in his Cabinet are happily preparing to take money and services away from taxpayers in order to do so.

Services and jobs will be cut in Health, resulting in the lay-off of nurses and care assistants. This will not only lead to an increase in the numbers drawing the dole and taking money from the Government, but will decrease the amount being in by the Exchequer in tax, PRSI etc. It will also result in increased waiting times for appointments, scans and planned surgery, and an increase in the number of A&E patients on trollies and chairs.

As a result of State assistance being cut to fee-paying schools, a number of Protestants schools will have no alternative but to shut down, forcing the Government to build and staff more State schools at a cost to the taxpayer.

When the fire brigade or ambulance service turn up at accidents, expect a bill to follow - this already happens in some parts of the country.

Which do we need more - a health service, an education service or the banks?

lmimmfn

ah sure why not jump on the bandwagon asking for more money from us, they more liquid they are the better it is for the shareholders

A bank with 0 risk( never thought that could happen lol ) is a license to print money.