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Thread: Europe's bank stress tests as bad as 1979 Irish driving test

  1. #16
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    Default Re: Europe's bank stress tests as bad as 1979 Irish driving test

    This is another 800 million euro hit for Ireland, yes ?
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
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  2. #17
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    Default Re: Europe's bank stress tests as bad as 1979 Irish driving test

    ECB Press release on stress tests -

    26 October 2014 - ECB’s in-depth review shows banks need to take further action

    Key results of comprehensive assessment of 130 largest euro area banks:

    Capital shortfall of €25 billion detected at 25 participant banks

    Banks’ asset values need to be adjusted by €48 billion, €37 billion of which did not generate capital shortfall

    Shortfall of €25 billion and asset value adjustment of €37 billion implies overall impact of €62 billion on banks

    Additional €136 billion found in non-performing exposures

    Adverse stress scenario would deplete banks’ capital by €263 billion, reducing median CET1 ratio by 4 percentage points from 12.4% to 8.3%

    Exercise delivers high level of transparency, consistency and equal treatment

    Rigorous exercise is milestone for the Single Supervisory Mechanism starting in November
    https://www.ecb.europa.eu/press/pr/d...141026.en.html

    Links to assessment
    https://www.ecb.europa.eu/ssm/assess.../index.en.htmls -

    EDIT ooops sorry forgot to add the aggregate report -
    http://www.ecb.europa.eu/pub/pdf/oth...t201410.en.pdf
    Last edited by ang; 26-10-2014 at 12:05 PM.
    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

  3. #18
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    Default Re: Europe's bank stress tests as bad as 1979 Irish driving test

    Thanks for the update ang.


    I'm thinking it would make sense for me to merge PTSB threads for specific discussion of what that bank is going to cost us.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  4. #19
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    Default Re: Europe's bank stress tests as bad as 1979 Irish driving test

    [QUOTE=C. Flower;406706

    I'm thinking it would make sense for me to merge PTSB threads for specific discussion of what that bank is going to cost us.[/QUOTE]

    Yes it would.

    I spotted something somewhere that PTSB are already arguing with Minister over share options.
    Haven't read article yet but probably just spin to make it look like Noonan going against a Bank !
    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

  5. #20
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    Default Re: Europe's bank stress tests as bad as 1979 Irish driving test

    I can't see that this is going to be anything other than a big dent, given we are the major share holders.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  6. #21
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    Default Re: Europe's bank stress tests as bad as 1979 Irish driving test

    PTSB have failed.

    Cough up lads.

  7. #22
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    Default Re: Europe's bank stress tests as bad as 1979 Irish driving test

    Quote Originally Posted by Apjp View Post
    PTSB have failed.

    Cough up lads.
    Amusingly, it appears we already have. 400 mill in repayable bailout funds are to be converted into shares; writing up property values to account for the last year's gains is postulated to achieve the rest. 😜
    "The floggings will continue until morale improves "

  8. #23
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    Default Re: Europe's bank stress tests as bad as 1979 Irish driving test

    Government initially expected Irish Water to raise €500 million in 2015, or so they told the IMF in 2012. Now looking closer to €330, if they got 100% of people signing up. Which they wont. State-owned PTSB needs another €850 million.

  9. #24
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    Default Re: Europe's bank stress tests as bad as 1979 Irish driving test

    Nearly sorted, they claim

    Permanent TSB said today that it has already dealt with 80 per cent of the €854.8 million capital shortfall identified in pan-European stress tests run by the European Central Bank.
    The bank said it was in “advanced planning” with advisers from Deutsche Bank to raise capital from international investors in the “coming months”.
    PTSB has two weeks to submit its capital raising plan to the Single Supervisory Mechanism in Frankfurt, which will assume responsibility for financial regulation in the euro zone from November 4th.
    http://www.irishtimes.com/business/s...fall-1.1977385
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  10. #25
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    Default Re: Europe's bank stress tests as bad as 1979 Irish driving test

    How many Austrian banks failed, and which ones? It hasn't made the news here yet.

  11. #26
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    Default Europe's bank stress tests as bad as 1979 Irish driving test

    Quote Originally Posted by Apjp View Post
    How many Austrian banks failed, and which ones? It hasn't made the news here yet.
    Now, that is very interesting. Because it should be making the news. Will try and look later.
    "The floggings will continue until morale improves "

  12. #27
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    Default Re: Europe's bank stress tests as bad as 1979 Irish driving test

    Irish Permanent TSB shares in nosedive:

    Permanent TSB Group Holdings Plc (IPM) fell the most in 16 months after the bailed-out Irish lender said it plans to sell shares to help cover a capital hole that surfaced in European Central Bank stress tests.

    Permanent TSB, which is 99 percent state-owned, fell as much as 24 percent, the biggest drop since June 2013, and was down 10.5 percent at 6 euro cents at 10:18 a.m. in Dublin. The bank said yesterday it plans to sell at least 125 million euros ($159 million) of shares to help cover an 855 million-euro capital shortfall resulting from the ECB tests. It has plugged more than 80 percent of the hole through 400 million euros of contingent convertible bonds held in the bank and by shrinking its balance sheet, he said.
    http://www.bloomberg.com/news/2014-1...lin-mover.html
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  13. #28
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    Default Re: Europe's bank stress tests as bad as 1979 Irish driving test

    Monte Paschi down 20% too
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  14. #29
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    Default Re: Europe's bank stress tests as bad as 1979 Irish driving test

    From zerohedge:

    ECB Had Some Errors in Stress Test Data, WSJ Says
    http://www.zerohedge.com/news/2014-1...ng-stress-test
    Last edited by DCon; 27-10-2014 at 06:56 PM.
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  15. #30
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    Default Re: Europe's bank stress tests as bad as 1979 Irish driving test

    Bloomberg - a Danish study says that the methodology was wrong, and that simple leverage, not risk factors is the best predictor of a bank's robustness.

    Only 82 billion out though.

    http://www.bloomberg.com/news/2014-1...pital-gap.html
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
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