[quote=“therock67”]They’ve gone heavy on their advertising.
They’re all independent and some are riskier than others - not immune at all and are probably suffering a bit from not being part of the guarantee scheme.
Are shares going back up now thanks to the rate cut?[/quote]
Sort of, Anglo 2.70, BOI 3.30, AIB 5.39
Recession’s over so!
[quote=“therock67”]They’ve gone heavy on their advertising.
They’re all independent and some are riskier than others - not immune at all and are probably suffering a bit from not being part of the guarantee scheme.
Are shares going back up now thanks to the rate cut?[/quote]
Over the past 18 months some Credit Unions have been trying to move into the bank space and have got their own Sort Codes similar to a bank. They are directly involved in the Irish Clearing system and clear through BNP Paribas. If BNP manage to get onto the guarantee then these Credit Unions would most likely be secure.
As Credit Unions savings are all within Irish banks, would they not be safe?
Some of it is lent out though. And presumably that’s what’s not safe. They don’t just take your meagre savings and put it on deposit themselves, they go and lend it. And if people default on repaying them then there’ll be a problem when you try and withdraw.
Don’t know too much about it but they’re a small bit exposed.
Don’t see BNP Paribas getting onto the Irish scheme by the way. If you’ve no real retail side then I’d say the Irish govt won’t give a shit about you.
[quote=“therock67”]
Don’t see BNP Paribas getting onto the Irish scheme by the way. If you’ve no real retail side then I’d say the Irish govt won’t give a shit about you.[/quote]
Would agree but what could save them is the fact that they’re one of the 7 clearing banks. If anything was to happen them in Ireland it would mean a huge amount of other banks (say Barclays, HSBC etc) who clear through them would have no access to the clearing system.
Not really a big problem but would be interested in seeing how it would turn out if it happened!
Rioting erupted in Hong Kong today after the Hang Seng closed 8% down…
A taste of things to come?
[quote=“SHANNONSIDER**”]Rioting erupted in Hong Kong today after the Hang Seng closed 8% down…
A taste of things to come?[/quote]
worried about your portfolio Shannon, or has the old bover’ bomber jacket with matching docks shrunk?
I don’t have a portfolio MGG, I’m a happy go lucky Huckleberry Finn sort of fella. The only bond I have is my word.
[quote=“therock67”]Fecking patronising, arrogant prick of an English banking expert on Morning Ireland this morning.
Tried to cover all pro-British angles, no matter how contradictory including:
Funny how one guy like that can form your opinion on an entire economy but that prick made me wish that the British banks collapse. Telling us how we’ve done everything wrong when we should really have waited to see what decisive action Britian is taking, simultaneously saying it’s not a big deal while at the same time suggesting everyone would be screwed if they don’t follow Britain’s lead.[/quote]
Agreed on all your points except we dont want the british banks to fail. That would cause unbelieveable turmoil in England and would not be good for ireland at all IMHO.
ON hols last week only had BBC World News and they were going mental over Irish Gov Gtee as well…hilarious to see them scrambling to protect there own position.
Brian Lenihan has announced that the government plans to extend the guarantee scheme to Ulster Bank, First Active, Halifax Bank of Scotland, IIB Bank and Postbank. I’m not sure why we’re guaranteeing British owned banks given they’ve implemented their own financial rescue package, which they haven’t been shy proclaiming is the best corrective action taken by an affected country.
BOI are now trading at 2.71 the others have recovered slightly today but BOI are still heading south.
Almost had a market crash tonight, Dow Jones down around 8% at one stage (10% is a crash I think), dropped about 5% in 10 minutes, recovered a little, and dropping again like a stone as the market closed, down 6 to 7%. Irish banks down their usual 10 to 20%.
There’s reports that the British government are going to take ownership stakes in RBS and HBOS in return for providing them with capital under the terms of the financial rescue package announced last week. RBS raised 12bn in a rights issue less than 6 months ago, now their market value is below that level and they require another 15bn to stay afloat. Mr Goodwin will be on his way out. Meanwhile, there’s some bankers in the Irish media defending their modest salary levels today.
Sir Fred
I refuse to accept the British Honours system.
Sean Og to take over?
Iseq up nearly 5% this morning.
oz dollar still over 2 for 1 . hold out for another week ya good thing.
Hong Kong finished up 10%, crisis over?
FTSE 100 up 8.26%, second biggest one day rise in over 20 years
Doubt it. But at least the Governments have a tangible plan now. No doubt there are some “fabulous buying opportunities” out there now for someone with balls and a few quid.