| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

Follow Finfacts on Twitter

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : Irish Economy Last Updated: May 31, 2011 - 7:39 AM


Central Bank says its top priority is resolution of Irish banking crisis; Profit for 2010 fell to €840.9m
By Finfacts Team
May 30, 2011 - 11:45 AM

Email this article
 Printer friendly page

The Central Bank said today that its top priority since last year was working on a resolution of the Irish banking crisis. It reported a profit for the year to December 31, 2010 of €840.9m compared with a corresponding amount of €933.8m in 2009. €671m of the 2010 profit will be paid to the Exchequer.

The Bank said in a continued low interest rate environment, both the interest income and interest expense decreased in 2010. Interest income dipped by €147.5m to €2.1bn while interest expense decreased by €188.3m to €1.1bn. As a result, in 2010, the net interest income of the Bank increased by €40.8m to €1.0bn.

The Bank said in its performance statement issued with its Annual Report today: "Our priority during 2010 and 2011 has been and continues to be to work towards the resolution of the financial crisis and respond to the problems of under-capitalisation in the banking system. In March 2010, the Bank carried out the first round of the Prudential Capital Assessment Review (PCAR) exercise to determine the forward-looking prudential capital requirements of the Irish credit institutions covered by the Government Guarantee.

The Bank required the banks to meet the higher of a base case PCAR standard of 8% core Tier 1 and 7% equity or stress case 4% core Tier 1 by the end of 2010, taking account of both losses arising from portfolios transferred to NAMA and of projected expected losses on non-NAMA portfolios, including mortgage portfolios up to 2012. The capital requirements were revised in September to take account of the more severe NAMA haircuts and the announcement of increased capital requirements under the Basel II protocol.

The total capital requirements amounted to €24.98bn in respect of AIB, Bank of Ireland, Irish Life and Permanent, EBS, Irish Nationwide and Anglo Irish Bank as set out in Table 1 below."

Central Bank Annual Report 2010 (pdf)
The Annual Report documents the activities and presents the annual accounts of the Central Bank of Ireland for the year ended 31 December 2010

Annual Performance Statement Financial Regulation 2010 - 2011 (pdf)
The Annual Performance Statement documents the financial regulatory activities undertaken during 2010 and planned for 2011

Related Articles
Related Articles


© Copyright 2011 by Finfacts.com

Top of Page

Irish Economy
Latest Headlines
Finfacts launches new news site
Irish Farmers & Milk Prices: 'Shackles' off in April; Demanding safety-net in August
Irish pension managed funds returns at over 12% year-to-date in 2015
Irish chartered accountants' salary packages surge 13% in 12 months
Irish services PMI fastest rate since late 2006; Official data up only 2.4% in 12 months
Irish Economy: Tax €893m above target in year to July — €653m from corporation tax
Fact and Fiction: Time to review Ireland's economic statistics?
Irish M&A deals H1 2015: Dutch or UK firm acquires Irish firm for €32.6bn - they are both American
Irish manufacturing PMI strong in July
Irish Economy: Fall in GNP in Q1 2015; GDP rises
Irish Economy 2015: Central Bank lauds strong recovery; Time to start paying down debt
Irish Budget 2016: Ibec demands 20 tax cuts, spending and investment rises
Low pay in Ireland; Lowest social security & corporate taxes in Europe
Ireland vs Greece: Enda Kenny's false claims on growth, taxes and debt
Irish standard of living in 2014 below Euro Area average, Italian level; Prices 5th highest in EU28
Irish goods exports rose a record 30% in April - due to fake tax-related transactions
Mexican tall ship to sail into Dublin on June 17th
Irish industrial production up 20% in first four months of 2015; Construction down 2.6% in first quarter
Irish Economy 2015: ESRI slams return to boom-time pro-cyclical fiscal policy
Irish pension fund returns in average range 1.6% - 1.8% in May 2015
Irish service sector PMI remains strong; Tax avoidance clouds data
Ireland: Official unemployment rate at 9.8% in May; Broad rate at 19% — 440,000 people
Ireland: Fiscal Council warns of dodgy forecasts, no plan; OECD warns of new property bubble
Irish Public Finances: Tax revenue in first five months of 2015 €734m ahead of target
No simple measure of economic progress in Ireland: GDP & GNP defective
Irish manufacturing PMI rises in May; Production up unbelievable 45% in year to March!
ESRI says data volatility hinders Irish economic forecasting; Tax avoidance taboo cause
Ireland at 16 in international competitiveness ranking; US, Singapore and Hong Kong on top
Irish Economy 2015: Sectors to add 200,000 jobs?; Broad jobless rate at 19%
Irish Export Performance: Myths and reality - Ireland is a poor exporter
Irish Economy: 41,300 jobs added in 12 months to Q1 2015 - Construction up 19,600
China-Ireland: Economic relationship on a slow burn
Estonia, Austria, France, Ireland head global alcohol rankings
Irish Exchequer Returns: Tax receipts under target in April but ahead in year
Irish service sector PMI rose in April
Irish manufacturing PMI remained strong in April- includes overseas manufacturing
Irish Live Register + 90,000 activation scheme numbers at 439,000 in April
Ireland: Coalition drops 2018 full-employment target
Ireland Spring Statement: Noonan promises 200,000 net new jobs by 2018
Irish Economy 2015: Retail sales volume up 1.4% in month of March