Ireland
Irish minister makes fresh bondholder threat
ECB executive board member critical of Ireland’s plans to impose losses on senior bondholders in Irish lenders; new stress test results on Thursday to develop the governments’ plans
Ireland’s chief regulator gets tough on corporate governance
Chief regulator Matthew Elderfield says poor governance exacerbated by cosy nature of corporate life in Ireland
Ireland unveils stress test scenarios
Central Bank of Ireland outlines macroeconomic scenarios for stress test exercise on four banks; results set to be published at end of month
Ireland’s Honohan pledges to avoid fire sales
Central Bank of Ireland governor Patrick Honohan says country can no longer afford fire-sale losses on non-core bank assets
EU agrees to more generous terms for Greece
Heads of state agree to lower rate of interest and extend maturity on Greek loan; no word on Ireland
Markets wobble as Spanish downgrade, eurozone fears bite
Moody’s one notch Spanish downgrade exacerbates investor jitters a day before European Council meets to discuss EFSF, ESM, bailout renegotiations
Ex-Fed economist appointed to Ireland’s Central Bank Commission
Former Federal Reserve economist and special adviser to Ireland’s outgoing finance minister Alan Ahearne appointed to Central Bank of Ireland’s commission
Consumer behaviour influences financial distress: ECB paper
European Central Bank study shows individuals’ behavioural traits may contribute to level of financial distress experienced by consumers
Draft Irish law sketches resolution fund, living wills
Draft legislation from Irish government sets out rules on resolution fund that all banks must pay into, living wills; law includes strict penalties for failure
Bailout renegotiation looms following Irish election
Ireland’s new prime minister-elect expected to press for renegotiation of EU-IMF bailout deal; scheduled to meet European Commission head José Manuel Barroso on Friday
Spanish banks’ ECB reliance drops
Spanish banks’ borrowing from European Central Bank declines just over 20% compared to December
No new deal on bailout: Trichet to Dublin
European Central Bank president Jean-Claude Trichet says Irish politicians should not attempt to renegotiate terms of the EU-IMF bailout; opposition leaders critical of ECB’s role
ECB - Monthly Bulletin (January 2011)
European Central Bank January 2011 Monthly Bulletin says data on bonds indicate rise in inflation expectations
Anglo chiefs approached me before crash: ex-central bank director
Former Central Bank of Ireland director Alan Gray says chairman and chief executive of now state-owned Anglo Irish Bank approached him over liquidity stress in lead up to government guarantee, crisis
Irish central bank names advisers for stress test exercise
Central Bank of Ireland calls for BlackRock Solutions, Boston Consulting Group and Barclays Capital to assist in stress tests
New highs for CDS spreads on Ireland and Belgium
The cost of insuring against Irish and Belgian state defaults reaches unprecedented levels
SNB rejects Irish debt as collateral
Swiss National Bank excludes Irish sovereign debt and that of some Irish banks from list of collateral eligible for open market operations
RBA minutes: rates on hold as global downside risks rise
Minutes of Reserve Bank of Australia rate-setting meeting relay concern over deteriorating situation in Europe; more positive on US, China
Ireland lifts lid on tough new enforcement approach
Central Bank of Ireland publishes first-ever enforcement strategy, detailing tough line on sanctions; publication accompanies penalties on Allied Irish Banks, NCB Stockbrokers
Dublin deflects ECB criticism of bank law
Ireland’s finance ministry says central bank independence not threatened by bank bill; statement comes in response to wide-ranging European Central Bank critique of draft law
ECB repos, not bond purchases best fix for debt woes: Deutsche Bank note
Deutsche Bank paper moots the use of targeted long-term repurchases to shore up peripheral bond markets, rather than more outright purchases
Fitch kicks three more notches off Ireland
Irish sovereign debt downgraded to BBB+ by ratings agency Fitch
Spain’s banking sector different from Ireland: Ariztegui
Bank of Spain deputy governor Javier Ariztegui says Spanish banking sector faces different challenges than seen in Ireland
Supervision of Israel’s housing market paramount: Fischer
Bank of Israel governor Stanley Fischer warns against complacency in supervision of mortgage-lending industry in Israel