Obbligazioni bancarie Banche irlandesi: newsflow, ratings, bonds. Il fronte irlandese dell'Euro.
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Hedger
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Per trasparenza nei confronti di chi partecipa al forum lo avevo espressamente scritto ieri pomeriggioHedger, anche tu vedo che sei intorno ai periferici ....
http://www.investireoggi.it/forum/1827084-post17401.html
tommy271
Forumer storico
Weber: Crisis Not Yet Over; Need More Financial Market Reform
BERLIN (MNI) - The financial and economic crisis is not yet over and there is a need for more financial market reforms, ECB Governing Council member Axel Weber said Tuesday.
"Even though financial markets have calmed down and the economy is recovering gradually, it is still too early to speak about the end of the crisis," the president of the Bundesbank said in a speech for delivery at a banking conference in Munich.
"The events surrounding Greece have shown once again that we're not immune to setbacks," he cautioned.
However, the acute crisis management should not stop policy-makers from looking further ahead and tackling more far-reaching financial market reforms, Weber said.
Turning to the key Basel III banking regulation reform, Weber noted that some had warned these reforms would increase the risk of a credit crunch. "I don't share this pessimism," he said.
While Weber acknowledged that Basel III will lead to additional cost burdens for banks, he argued that there exist other ways to compensate for that than by reducing lending.
The Basel III reform will make banks more stable, leading in turn to lower refinancing costs for them, the Governing Council member said.
Moreover, the reform will help to reduce the number of serious crises in the future, he argued, thereby saving taxpayers a lot of money as well as preventing major economic setbacks.
"For these reasons, I do not assume that the new rules will affect the economy perceptibly," the central banker stressed.
Yet, it is neither possible nor desirable to rule out the failure of individual banks completely, Weber said, pointing to moral hazard risks if banks were fully protected from insolvency.
Weber again called for a mechanism which allows for an orderly insolvency of systemically relevant banks. "It has to be prevented that the failure of individual banks prompts a chain reaction," he said.
***
Weber dixit ...
BERLIN (MNI) - The financial and economic crisis is not yet over and there is a need for more financial market reforms, ECB Governing Council member Axel Weber said Tuesday.
"Even though financial markets have calmed down and the economy is recovering gradually, it is still too early to speak about the end of the crisis," the president of the Bundesbank said in a speech for delivery at a banking conference in Munich.
"The events surrounding Greece have shown once again that we're not immune to setbacks," he cautioned.
However, the acute crisis management should not stop policy-makers from looking further ahead and tackling more far-reaching financial market reforms, Weber said.
Turning to the key Basel III banking regulation reform, Weber noted that some had warned these reforms would increase the risk of a credit crunch. "I don't share this pessimism," he said.
While Weber acknowledged that Basel III will lead to additional cost burdens for banks, he argued that there exist other ways to compensate for that than by reducing lending.
The Basel III reform will make banks more stable, leading in turn to lower refinancing costs for them, the Governing Council member said.
Moreover, the reform will help to reduce the number of serious crises in the future, he argued, thereby saving taxpayers a lot of money as well as preventing major economic setbacks.
"For these reasons, I do not assume that the new rules will affect the economy perceptibly," the central banker stressed.
Yet, it is neither possible nor desirable to rule out the failure of individual banks completely, Weber said, pointing to moral hazard risks if banks were fully protected from insolvency.
Weber again called for a mechanism which allows for an orderly insolvency of systemically relevant banks. "It has to be prevented that the failure of individual banks prompts a chain reaction," he said.
***
Weber dixit ...
tommy271
Forumer storico
Irlanda, min. Finanze: economia crescerà meno di attese in 2011
mercoledì 20 ottobre 2010 10:13
DUBLINO (Reuters) - L'economia irlandese crescerà meno di quanto previsto il prossimo anno, ha detto il ministro delle Finanze, Brian Lenihan, segnalando ulteriore pressione per le finanze pubbliche.
Ieri i leader politici irlandesi hanno detto che il paese avrà bisogno di aumentare in modo significativo i risparmi per il periodo 2011-2014.
La banca centrale ha detto, a inizio mese, che le previsioni di crescita per il prossimo anno, al 2,4%, rischiano un taglio.
mercoledì 20 ottobre 2010 10:13
DUBLINO (Reuters) - L'economia irlandese crescerà meno di quanto previsto il prossimo anno, ha detto il ministro delle Finanze, Brian Lenihan, segnalando ulteriore pressione per le finanze pubbliche.
Ieri i leader politici irlandesi hanno detto che il paese avrà bisogno di aumentare in modo significativo i risparmi per il periodo 2011-2014.
La banca centrale ha detto, a inizio mese, che le previsioni di crescita per il prossimo anno, al 2,4%, rischiano un taglio.
Hedger
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discipline
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Anglo Irish to buy back subordinated debt at discount
DUBLIN | Wed Oct 20, 2010 7:35am EDT
DUBLIN Oct 20 (Reuters) - Nationalised lender Anglo Irish Bank [ANGIB.UL] will buy back its subordinated debt at a big discount, Finance Minister Brian Lenihan said on Wednesday.
"I understand that the management at Anglo will be carrying out an exercise to repurchase the debt at a very substantial discount," Lenihan told parliament.
(Reporting by Carmel Crimmins)
Anglo Irish to buy back subordinated debt at discount | Reuters
Vediamo cosa ne viene fuori...
DUBLIN | Wed Oct 20, 2010 7:35am EDT
DUBLIN Oct 20 (Reuters) - Nationalised lender Anglo Irish Bank [ANGIB.UL] will buy back its subordinated debt at a big discount, Finance Minister Brian Lenihan said on Wednesday.
"I understand that the management at Anglo will be carrying out an exercise to repurchase the debt at a very substantial discount," Lenihan told parliament.
(Reporting by Carmel Crimmins)
Anglo Irish to buy back subordinated debt at discount | Reuters
Vediamo cosa ne viene fuori...
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Utente Senior
postato anche tra le p.
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Anglo Irish Bank Corp. offered to exchange 1.6 billion euros ($2.2 billion) of subordinated debt at a discount, paying in new bonds at a rate of 20 cents on the euro as the nationalized lender seeks to generate capital.
Anglo Irish will offer bondholders that don’t take up the exchange 1 cent per 1,000-euro face amount to redeem their floating-rate notes due 2014, 2016 and 2017, the Dublin-based lender said in a statement today. The new securities will be due 2011 and guaranteed by the government, according to the statement.
Holders of more-junior securities in euros and pounds will get a 50-euro or 50-pound consent fee to give the issuer the right to buy them back at 1 cent or 1 penny for each 1,000 euros or 1,000 pounds ($1,576) of securities, according to a separate statement.
“The government is clearly trying to get as high a participation rate in the exchange as possible,” said Fergal O’Leary, a director at Dublin-based Glas Securities, which specializes in fixed income markets. “The alternative to taking part is quite penal.”
Ireland faces a bill of more than 50 billion euros, about 22 percent of 2009 gross domestic product, to prop up lenders and wants to ensure the burden is shared with subordinated bondholders. The exchange offer comes after Finance Minister Brian Lenihan vowed to “address the issue” of junior bondholders taking a loss on their investments in nationalized banks.
Repurchasing a liability such as a bond at a discount to face value generates a capital gain that the purchaser can use to bolster its capital.
The Irish government pledged as much as 11.4 billion euros to support Anglo Irish on Sept. 30, on top of the 22.9 billion euros it has already pumped in since seizing the lender in January 2009. Its base-case calculation of the cost of the rescue, which involves keeping part of the lender alive while putting the remainder into runoff, is 29 billion euros.
The Anglo Irish rescue package will cost every man, woman and child in Ireland as much as 7,500 euros.
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Anglo Irish Bank Corp. offered to exchange 1.6 billion euros ($2.2 billion) of subordinated debt at a discount, paying in new bonds at a rate of 20 cents on the euro as the nationalized lender seeks to generate capital.
Anglo Irish will offer bondholders that don’t take up the exchange 1 cent per 1,000-euro face amount to redeem their floating-rate notes due 2014, 2016 and 2017, the Dublin-based lender said in a statement today. The new securities will be due 2011 and guaranteed by the government, according to the statement.
Holders of more-junior securities in euros and pounds will get a 50-euro or 50-pound consent fee to give the issuer the right to buy them back at 1 cent or 1 penny for each 1,000 euros or 1,000 pounds ($1,576) of securities, according to a separate statement.
“The government is clearly trying to get as high a participation rate in the exchange as possible,” said Fergal O’Leary, a director at Dublin-based Glas Securities, which specializes in fixed income markets. “The alternative to taking part is quite penal.”
Ireland faces a bill of more than 50 billion euros, about 22 percent of 2009 gross domestic product, to prop up lenders and wants to ensure the burden is shared with subordinated bondholders. The exchange offer comes after Finance Minister Brian Lenihan vowed to “address the issue” of junior bondholders taking a loss on their investments in nationalized banks.
Repurchasing a liability such as a bond at a discount to face value generates a capital gain that the purchaser can use to bolster its capital.
The Irish government pledged as much as 11.4 billion euros to support Anglo Irish on Sept. 30, on top of the 22.9 billion euros it has already pumped in since seizing the lender in January 2009. Its base-case calculation of the cost of the rescue, which involves keeping part of the lender alive while putting the remainder into runoff, is 29 billion euros.
The Anglo Irish rescue package will cost every man, woman and child in Ireland as much as 7,500 euros.
maxinblack
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Tentativo di estorsione ai danni dei bondholders se hai meno di 50K di danno 1 cent per 1000 euro
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tommy271
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Forse una notizia meno triste per i possessori di TdS Ireland ...
tommy271
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Anglo controlled huge private wealth
By Emmet Oliver Deputy Business Editor
Friday October 22 2010
Anglo Irish Bank was managing a huge amount of private wealth in Ireland and the UK before its collapse in early 2009, figures given to the EU Commission indicate.
The bank claims it was controlling up to 40pc of the entire private banking market in Ireland before its nationalisation in January 2009. The bank believes its market share of wealth management in Ireland was between 30pc and 40pc and even up to 5pc in the UK market.
Private banking involves banks advising high net worth individuals about how to manage their money. Banks then charge a fee and often also benefit from deposits from these wealthy clients. The identity of wealthy clients is completely confidential.
Rival banks were sceptical of the UK figure yesterday, but acknowledged Anglo's private banking presence in Ireland was considerable. The figures are included in the latest EU Commission approvals for capital injections into Anglo, which were released in Brussels.
The private banking area -- or wealth management -- was reported to be worth €20bn at the peak of the boom, although some thought it was far larger than this. Taking the €20bn figure would have left Anglo managing about €8bn of assets and cash on behalf of clients.
The current website of Anglo Irish wealth management talks about the bank managing cash and funds of €2bn. Many of the bank's clients were sold tax-efficient products through a company called Anglo Irish Assurance Company.
Hedge funds
A range of investment services are also provided, ironically among them are investments in hedge funds, which were blamed in 2008 in shorting the bank's shares and impacting on its position in the inter-bank markets.
At the peak of the market in early 2007 BoI did research claiming there were 30,000 millionaires in Ireland.
At that time private banking was reported to be growing by between 40pc and 50pc a year and AIB and BoI were expecting strong returns from their private banking arms.
One of the big issues in recent years has been stockbrokers taking a greater share of this private wealth market, offering alternative investments that banks sometimes don't have access to. Ireland also plays host to a small number of hedge funds.
Several large international banks are now either operating in private wealth in Ireland or have plans to.
Barclays has a wealth management arm in Ireland and South African banking giant Investec has expressed a wish to buy a wealth manager in Ireland.
- Emmet Oliver Deputy Business Editor
(Irish Indipendent)
By Emmet Oliver Deputy Business Editor
Friday October 22 2010
Anglo Irish Bank was managing a huge amount of private wealth in Ireland and the UK before its collapse in early 2009, figures given to the EU Commission indicate.
The bank claims it was controlling up to 40pc of the entire private banking market in Ireland before its nationalisation in January 2009. The bank believes its market share of wealth management in Ireland was between 30pc and 40pc and even up to 5pc in the UK market.
Private banking involves banks advising high net worth individuals about how to manage their money. Banks then charge a fee and often also benefit from deposits from these wealthy clients. The identity of wealthy clients is completely confidential.
Rival banks were sceptical of the UK figure yesterday, but acknowledged Anglo's private banking presence in Ireland was considerable. The figures are included in the latest EU Commission approvals for capital injections into Anglo, which were released in Brussels.
The private banking area -- or wealth management -- was reported to be worth €20bn at the peak of the boom, although some thought it was far larger than this. Taking the €20bn figure would have left Anglo managing about €8bn of assets and cash on behalf of clients.
The current website of Anglo Irish wealth management talks about the bank managing cash and funds of €2bn. Many of the bank's clients were sold tax-efficient products through a company called Anglo Irish Assurance Company.
Hedge funds
A range of investment services are also provided, ironically among them are investments in hedge funds, which were blamed in 2008 in shorting the bank's shares and impacting on its position in the inter-bank markets.
At the peak of the market in early 2007 BoI did research claiming there were 30,000 millionaires in Ireland.
At that time private banking was reported to be growing by between 40pc and 50pc a year and AIB and BoI were expecting strong returns from their private banking arms.
One of the big issues in recent years has been stockbrokers taking a greater share of this private wealth market, offering alternative investments that banks sometimes don't have access to. Ireland also plays host to a small number of hedge funds.
Several large international banks are now either operating in private wealth in Ireland or have plans to.
Barclays has a wealth management arm in Ireland and South African banking giant Investec has expressed a wish to buy a wealth manager in Ireland.
- Emmet Oliver Deputy Business Editor
(Irish Indipendent)
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