serendipity
Nuovo forumer
10 moltiplicato il differenziale trra IRS 10 e IRS 2.
Attenzione! Nessuno ti garantisce che questo valore sarà sempre maggiore di 0.
Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 1 (14 lettori)
- Creatore Discussione negusneg
- Data di Inizio
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- Tags
- additional tier 1 bail in basilea 3 coco bonds crd iv genussscheine grandfathering hybrid bond loss absorption lower tier 2 make whole amount matusalem bond obbligazioni irredimibili obbligazioni perpetue obbligazioni subordinate perpetual bond preference shares restricted tier 1 tier 1 upper tier 2
- Stato
Attenzione! Nessuno ti garantisce che questo valore sarà sempre maggiore di 0.
Zorba
Bos 4 Mod
Lotta serrata vs IMF per evitare la nazionalizzazione di BOI...
Shane Ross: IMF and State battle it out over nationalisation of BoI - Shane Ross, Columnists - Independent.ie
Shane Ross: IMF and State battle it out over nationalisation of BoI - Shane Ross, Columnists - Independent.ie
Zorba
Bos 4 Mod
Altra fonte
Bank of Ireland May Become 75% State-Owned, Sunday Post Says
November 28, 2010, 4:55 AM EST
By Finbarr Flynn
Nov. 28 (Bloomberg) -- The Irish government may increase its stake in Bank of Ireland Plc to 75 percent, the Sunday Business Post reported, without saying where it got the information.
State ownership of the Dublin-based bank, the country’s largest, may be closer to 60 percent if the lender is given time to sell off assets, the newspaper said. Details of a government injection of funds into the country’s lenders are expected later today as part of a European Union and International Monetary Fund bailout for Ireland, the newspaper said.
Bank of Ireland May Become 75% State-Owned, Sunday Post Says
November 28, 2010, 4:55 AM EST
By Finbarr Flynn
Nov. 28 (Bloomberg) -- The Irish government may increase its stake in Bank of Ireland Plc to 75 percent, the Sunday Business Post reported, without saying where it got the information.
State ownership of the Dublin-based bank, the country’s largest, may be closer to 60 percent if the lender is given time to sell off assets, the newspaper said. Details of a government injection of funds into the country’s lenders are expected later today as part of a European Union and International Monetary Fund bailout for Ireland, the newspaper said.
Discepolo
Negusneg Fan Club
ciao Riccio, attento che se ti riferisci alla DE000A0E5JD4, il tasso è
10* (irs10-irs2) ma poi contiene un aggiunta, max irs 10a, per cui
il 10 volte differenziale swap è puramente indicativo, esempio, con il differenziale swap a 2 in teoria renderebbe 10*2=20%, ma c'e' il limite massimo che corrisponde all'irs10.
Quindi solo nel caso in cui il tasso fosse, esempio a 10 anni al 3 e a 2 anni al 2,80, otterrresti come cedola 10*(3-2.8)=10*0,2=2%. Tale condizione rispetta il limite max del 3% e quindi la nuova cedola sarebbe 2%.
Non ricordo se tale obbligazione ha anche un floor all'1,75%, forse mi confondo con un'altra.
riccio43
lupo si lupo no
claudioborghi
Twitter: @borghi_claudio
Quoto, di Amato ho detto e scritto tutto il male possibile, principalmente in quanto coautore (in tandem con Ciampi, qui in Italia più la gente la fa grossa più ti considerano, ma guai a farla piccola, sputtanamento garantito) dello sperpero di tutte le riserve monetarie Italiane nel '92. (anche se pure la finanziaria elettorale del 2001 con buco a consuntivo di 30 bln sulle previsioni non era male).
Tuttavia sebbene una porcata quella dei conti correnti la fecero bene... tutti zitti, fotografia alla mattina e ciao, non ci si pensa più.
Pensate invece come sarebbe stato se avessero detto: "stiamo pensando ad un'idea per far condividere i costi delle nostre boiate ai possessori di conti correnti... tutto sommato devono "share the burden" ecc. ecc."
Secondo voi ora della decisione quanti soldi sarebbero rimasti nei conti correnti?
Ecco, Merkel e soci stanno facendo proprio così...
MRPINK
Forumer storico
Quoto, di Amato ho detto e scritto tutto il male possibile, principalmente in quanto coautore (in tandem con Ciampi, qui in Italia più la gente la fa grossa più ti considerano, ma guai a farla piccola, sputtanamento garantito) dello sperpero di tutte le riserve monetarie Italiane nel '92. (anche se pure la finanziaria elettorale del 2001 con buco a consuntivo di 30 bln sulle previsioni non era male).
Tuttavia sebbene una porcata quella dei conti correnti la fecero bene... tutti zitti, fotografia alla mattina e ciao, non ci si pensa più.
Pensate invece come sarebbe stato se avessero detto: "stiamo pensando ad un'idea per far condividere i costi delle nostre boiate ai possessori di conti correnti... tutto sommato devono "share the burden" ecc. ecc."
Secondo voi ora della decisione quanti soldi sarebbero rimasti nei conti correnti?
Ecco, Merkel e soci stanno facendo proprio così...
...i bene informati al solito sapevano ed hanno spostato per tempo, così come nel 92 prima della svalutazione della lira a Roma da quindici giorni si comprava valuta estera per metterla nelle cassette di sicurezza !
onik
Forumer attivo
cosi' come gli argentini presero il buquebus (battello) per attraversare il rio della plata e portare i dollari da Buens Aires a Montevideo, poco prima che il cambio passasse da 1:1 a 1:4.
zeta59
Forumer storico
Buona sera a tutti , vado O.T. un attimo
poichè su questo 3ad ci sono diversi Torinesi , se foste interessati ci farebbe senz'altro piacere avere la vostra partecipazione, ed avere modo di fare conoscenza.
Invito logicamente aperto ai non Torinesi , con la comprensione che muoversi di questo periodo è poco agevole.
[OT] Cena torinese - Forum di Finanzaonline.com
Scusate l' O.T.
Zeta59
poichè su questo 3ad ci sono diversi Torinesi , se foste interessati ci farebbe senz'altro piacere avere la vostra partecipazione, ed avere modo di fare conoscenza.
Invito logicamente aperto ai non Torinesi , con la comprensione che muoversi di questo periodo è poco agevole.
[OT] Cena torinese - Forum di Finanzaonline.com
Scusate l' O.T.
Zeta59
maxolone
Forumer storico
EU/IMF Irish bailout – the details
Here it is in all its gory detail and note there will be NO shortback and sides for senior bondholders!
Other points of interest: the four year plan has gone (it last all of four days); Ireland’s SWF is getting sucked dry, again; and there’s no real meat on the bank recapitalisation plan (is capital rising to from 8 per cent to 12 per cent.
And reportedly the UK is making a bilateral loan of £3.2bn.
(emphasis throughout ours).
Here it is in all its gory detail and note there will be NO shortback and sides for senior bondholders!
Other points of interest: the four year plan has gone (it last all of four days); Ireland’s SWF is getting sucked dry, again; and there’s no real meat on the bank recapitalisation plan (is capital rising to from 8 per cent to 12 per cent.
And reportedly the UK is making a bilateral loan of £3.2bn.
(emphasis throughout ours).
Government Statement on the announcement of joint EU – IMF Programme for Ireland.
The Government today agreed in principle to the provision of €85 billion of financial support to Ireland by Member States of the European Union through the European Financial Stability Fund (EFSF) and the European Financial Stability Mechanism; bilateral loans from the UK, Sweden and Denmark; and the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) on the basis of specified conditions.
The State’s contribution to the €85 billion facility will be €17.5 billion, which will come from the National Pension Reserve Fund (NPRF) and other domestic cash resources. This means that the extent of the external assistance will be reduced to €67.5 billion.
The purpose of the external financial support is to return our economy to sustainable growth and to ensure that we have a properly functioning healthy banking system.
The external support will be broken down as follows: €22.5 billion from the European Financial Stability Mechanism (EFSM); €22.5 billion from the International Monetary Fund (IMF); and €22.5 billion from the European Financial Stability Fund (EFSF) and bilateral loans. The bilateral loans will be subject to the same conditionality as provided by the programme.
The facility will include up to €35 billion to support the banking system; €10 billion for the immediate recapitalisation and the remaining €25 billion will be provided on a contingency basis. Up to €50 billion to cover the financing of the State. The funds in the facility will be drawn down as necessary, although the amount will depend on the capital requirements of the financial system and NTMA bond issuances during the programme period.
If drawn down in total today, the combined annual average interest rate would be of the order of 5.8% per annum. The rate will vary according to the timing of the drawdown and market conditions.
The assistance of our EU partners and the IMF has been required because of the present high yields on Irish bonds, which have curtailed the State’s ability to borrow.
Without this external support, the State would not be able to raise the funds required to pay for key public services for our citizens and to provide a functioning banking system to support economic activity. This support is also needed to safeguard financial stability in the euro area and the EU as a whole.
The Government today agreed in principle to the provision of €85 billion of financial support to Ireland by Member States of the European Union through the European Financial Stability Fund (EFSF) and the European Financial Stability Mechanism; bilateral loans from the UK, Sweden and Denmark; and the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) on the basis of specified conditions.
The State’s contribution to the €85 billion facility will be €17.5 billion, which will come from the National Pension Reserve Fund (NPRF) and other domestic cash resources. This means that the extent of the external assistance will be reduced to €67.5 billion.
The purpose of the external financial support is to return our economy to sustainable growth and to ensure that we have a properly functioning healthy banking system.
The external support will be broken down as follows: €22.5 billion from the European Financial Stability Mechanism (EFSM); €22.5 billion from the International Monetary Fund (IMF); and €22.5 billion from the European Financial Stability Fund (EFSF) and bilateral loans. The bilateral loans will be subject to the same conditionality as provided by the programme.
The facility will include up to €35 billion to support the banking system; €10 billion for the immediate recapitalisation and the remaining €25 billion will be provided on a contingency basis. Up to €50 billion to cover the financing of the State. The funds in the facility will be drawn down as necessary, although the amount will depend on the capital requirements of the financial system and NTMA bond issuances during the programme period.
If drawn down in total today, the combined annual average interest rate would be of the order of 5.8% per annum. The rate will vary according to the timing of the drawdown and market conditions.
The assistance of our EU partners and the IMF has been required because of the present high yields on Irish bonds, which have curtailed the State’s ability to borrow.
Without this external support, the State would not be able to raise the funds required to pay for key public services for our citizens and to provide a functioning banking system to support economic activity. This support is also needed to safeguard financial stability in the euro area and the EU as a whole.
Programme for Support
The Programme for Support has been agreed with the EU Commission and the International Monetary Fund, in liaison with the European Central Bank. The Programme builds on the bank rescue policies that have been implemented by the Irish Government over the past two and a half years and on the recently announced National Recovery Plan.
The Programme lays out a detailed timetable for the implementation of the measures contained in the National Recovery Plan.
The conditions governing the Programme will be set out in the Memorandum of Understanding and the Government will work closely with the various bodies to ensure that these conditions are met. The funding will be provided in quarterly tranches on the achievement of agreed quarterly targets.
The Programme has two parts – the first part deals with bank restructuring and reorganisation and the second part deals with fiscal policy and structural reform.
The requirement for quarterly progress reports covers both parts of the programme. When the documentation on the Programme is finalised, it will be laid before the Houses of the Oireachtas.
The Programme for Support has been agreed with the EU Commission and the International Monetary Fund, in liaison with the European Central Bank. The Programme builds on the bank rescue policies that have been implemented by the Irish Government over the past two and a half years and on the recently announced National Recovery Plan.
The Programme lays out a detailed timetable for the implementation of the measures contained in the National Recovery Plan.
The conditions governing the Programme will be set out in the Memorandum of Understanding and the Government will work closely with the various bodies to ensure that these conditions are met. The funding will be provided in quarterly tranches on the achievement of agreed quarterly targets.
The Programme has two parts – the first part deals with bank restructuring and reorganisation and the second part deals with fiscal policy and structural reform.
The requirement for quarterly progress reports covers both parts of the programme. When the documentation on the Programme is finalised, it will be laid before the Houses of the Oireachtas.
Bank Restructuring and Reorganisation
The Programme for the Recovery of the Banking System will be an intensification of the measures already adopted by the Government. The programme provides for a fundamental downsizing and reorganisation of the banking sector so it is proportionate to the size of the economy. It will be capitalised to the highest international standards, and in a position to return to normal market sources of funding.
The Programme for the Recovery of the Banking System will be an intensification of the measures already adopted by the Government. The programme provides for a fundamental downsizing and reorganisation of the banking sector so it is proportionate to the size of the economy. It will be capitalised to the highest international standards, and in a position to return to normal market sources of funding.
Fiscal Policy and Structural Reform
The Ecofin has acknowledged the EU Commission’s analysis that a further year may be required to achieve the 3% deficit target. This analysis is based on a more cautious growth outlook in 2011 and 2012 and the need to service the cost of additional bank recapitalisations envisaged under the programme.
The Council has today extended the time frame by 1 year to 2015.
The Programme endorses the Irish Government’s budgetary adjustment Plan of €15 billion over the next four years, and the commitment for a substantial €6 billion frontloading of this plan in 2011.
The details of the Programme closely reflects the key objectives set out in the National Recovery Plan published last week.
The adjustment will be made up of €10 billion in expenditure savings and €5 billion in taxes.
The Programme endorses the structural reforms contained in the Plan which will underpin a return to sustainable economic growth over the coming years.
The Government welcomes the support shown to Ireland by our Eurozone partners and in particular by the United Kingdom, Sweden and Denmark who have expressed their willingness to offer bilateral assistance.
The Government also welcomes the assistance of the IMF.
As part of the Programme, Ireland will discontinue its financial assistance to the Loan Facility to Greece. This commitment would have amounted to approximately €1 billion up to the period to mid-2013.
The Ecofin has acknowledged the EU Commission’s analysis that a further year may be required to achieve the 3% deficit target. This analysis is based on a more cautious growth outlook in 2011 and 2012 and the need to service the cost of additional bank recapitalisations envisaged under the programme.
The Council has today extended the time frame by 1 year to 2015.
The Programme endorses the Irish Government’s budgetary adjustment Plan of €15 billion over the next four years, and the commitment for a substantial €6 billion frontloading of this plan in 2011.
The details of the Programme closely reflects the key objectives set out in the National Recovery Plan published last week.
The adjustment will be made up of €10 billion in expenditure savings and €5 billion in taxes.
The Programme endorses the structural reforms contained in the Plan which will underpin a return to sustainable economic growth over the coming years.
The Government welcomes the support shown to Ireland by our Eurozone partners and in particular by the United Kingdom, Sweden and Denmark who have expressed their willingness to offer bilateral assistance.
The Government also welcomes the assistance of the IMF.
As part of the Programme, Ireland will discontinue its financial assistance to the Loan Facility to Greece. This commitment would have amounted to approximately €1 billion up to the period to mid-2013.
- Stato