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ANGLO IRISH WAS WARNED NOT TO BORROW MORE MONEY FROM THE ECB ..IRBC REPORT

  • 29-03-2012 7:44pm
    #1
    Lou.m
    Closed Accounts Posts: 2,532 ✭✭✭


    http://www.ibrc.ie/About_us/Financial_information/Annual_Report/Annual_Report_2011.pdf

    Anglo Irish Bank was warned not to increase it's borrowing from ECB.....

    This getsmore unbeleivable by the day to me...WHY BAILOUT BANK THAT HAD BEEN WARNED???

    Why did AIB ignore warnings...why did the ECB???? The ECB is meant to regulate too!!

    I think it goes into other banks too possibly..need to look more


Comments

  • #2
    For Forks Sake
    Registered Users, Registered Users 2 Posts: 11,751 ✭✭✭✭For Forks Sake


    Lou.m wrote: »
    http://www.ibrc.ie/About_us/Financial_information/Annual_Report/Annual_Report_2011.pdf

    Anglo Irish Bank was warned not to increase it's borrowing from ECB.....

    This getsmore unbeleivable by the day to me...WHY BAILOUT BANK THAT HAD BEEN WARNED???

    Why did AIB ignore warnings...why did the ECB???? The ECB is meant to regulate too!!

    I think it goes into other banks too possibly..need to look more

    What?


  • #3
    For Forks Sake
    Registered Users, Registered Users 2 Posts: 11,751 ✭✭✭✭For Forks Sake


    Also, AIB = Allied Irish Bank


  • #4
    geeman
    Closed Accounts Posts: 93 ✭✭geeman


    For the same reasons Anglo borrowed $32 billion from the US central bank...the state Guarantee. Where did the money go?


  • #5
    Scofflaw
    Registered Users, Registered Users 2 Posts: 23,283 ✭✭✭✭Scofflaw


    OK. This is frankly incomprehensible. It seems to be based on this:
    At 31 December 2011 the Bank’s nominal holding of senior bonds totalled €950m. This figure includes €33m nominal of senior bonds received by the Bank under the INBS Transfer Order on 1 July 2011. In October 2011 the Central Bank of Ireland advised the Bank not to increase its usage of sale and repurchase facilities provided under open market operations with the ECB. As a result, at 31 December 2011 there were no senior bonds used in sale and repurchase agreements under open market operations with central banks (2010: €12,275m). At 31 December 2011 senior bonds with a nominal value of €750m had been pledged under a Special Master Repurchase Agreement (‘SMRA’) with the Central Bank of Ireland.

    But that appears to have absolutely no relevance to anything else in the OP, particularly because it refers to something that happened a couple of years after the Anglo bailout.

    As such, closed. The OP may PM me with a more comprehensible version if desired. fat_tony, I can understand the temptation, but bear in mind that under less provocation that would merit an infraction.

    moderately,
    Scofflaw


This discussion has been closed.
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