Irish Stress Test Results, And Full Irish Financial Measures Programme Report

Tyler Durden's picture

And so the Irish bank sector is about to nationalized.

  • IRISH REGULATOR SAYS FOUR BANKS NEED EU24 BLN MORE CAPITAL
  • BANK OF IRELAND NEEDS TO RAISE 5.2B EUROS OF NEW CAPITAL
  • IRISH LIFE NEEDS TO RAISE 4 BILLION EUROS, CENTRAL BANK SAYS
  • EBS NEEDS TO RAISE EU1.5 BLN IN CAPITAL, REGULATOR SAYS
  • ALLIED IRISH BANKS NEEDS TO RAISE EU13.3 BLN IN CAPITAL

More details:

  • Irish Central Bank used BlackRock to conduct the loan portfolio test (basically the whole thing is a sham)
  • Irish Central Bank sees €13.2 billion potential capital loss from deleveraging
  • Irish stress tests see 10.5% core tier 1 ratio in base case; see 6% core tier 1 ratio in adverse case
  • Irish Central Bank says each bank to have loan deposit ratio of 122.5% by 2013
  • Irish Central Bank says banks have to deleverage EUR72.6bln by 2013

Full report below (link):

The Financial Measures Programme Report