ECB set to offer struggling Irish banks a medium-term lifeline

first_img whatsapp Share KCS-content Monday 28 March 2011 12:32 am Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap ECB set to offer struggling Irish banks a medium-term lifeline center_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Show Comments ▼ THE European Central Bank is working on a plan to keep struggling Irish banks afloat in the medium term.The new facility, which would replace the use of the Emergency Liquidity Assistance programme, would give Irish banks more time to shrink their assets and reduce their dependence on emergency funding.Ireland’s banks have an estimated €150bn (£132bn) in loans from the ECB and Irish central bank.And a weekend report in the Sunday Business Post suggested that upcoming stress tests on Ireland’s four main lenders will reveal a capital hole of around €20bn.Ireland’s central bank will on Thursday publish the new stress test results from Bank of Ireland, Allied irish Banks, Irish Life& Permanent and EBS Building Society.The central bank has declined to comment in advance of the results.A Reuters survey of analysts showed that around €25bn out of the €35bn set aside for the banks under EU-IMF deal would be required as a result of the stress tests.However the creation of a scheme, said to be called a “Facility for Banks Under Restructuring,” would reduce the need for panic banking sales. Tags: NULLlast_img

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