Anglo Irish Tier2 debt downgraded by S&P...

Discussion in 'Wall St. News' started by ASusilovic, Sep 29, 2010.

  1. ECB Payments

    Ireland-based credit institutions, including international and domestic companies, owed the ECB 95.1 billion euros as of Aug. 27, up from 89.5 billion euros a month earlier, according to the central bank’s website.

    Those debts will increase “significantly,” Credit Suisse analysts said in a Sept. 16 report to clients, estimating that Irish banks already account for about 10 percent of ECB funding. A report from the ECB is scheduled to be published next month.

    “It will show how dependent Irish banks have become not just on government-guaranteed funding, but also on extremely generous provisions from the ECB,” said Credit Suisse analysts, including Christel Aranda-Hassel and Neville Hill. “If the ECB were to tighten liquidity support significantly next year, that could be extremely problematic for the banks and market concern for the financial sector would rapidly spread to the sovereign.”