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TODAY IS THE deadline for bidders to submit their offers to buy IBRC loans.
The loans were issued by Anglo Irish Bank, now called the Irish Bank Resolution Corporation (IBRC), which is in liquidation and therefore selling its loans which have a value of €3.5 billion.
Irish companies
At the time of liquidation, borrowers were advised that their loans were to be put up for sale. These includes loans from the likes of Arnotts, Topaz and TV3.
Minister for Finance Michael Noonan said in the Dáil that the assets of IBRC would be valued independently before being sold and any assets that are not sold to third parties will be sold to NAMA at the independent valuation.
According to business advisors and chartered accountants Cooney Carey, the first tranche of loans on offer is made up of about fifty borrower groups. They state that bidders in the process are anonymous.
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Great. Looking forward to ”quarterly service charges” rising.
Yep. Anything charged to the banks will simply be put back on the customer. They need to find more creative ways to get a few quid out of the banks.
Likewise raising th the price of cigs. It’s the cigarette companies they should go after – target their finances directly. Hurt them directly.
Yes double taxiation is a wonderful thing
When you tax an entity it always gets passed on to the consumer one way or another. There will be no way of reclaiming money from the banks. The best we can do is seek alternatives to the bailout banks.
So this levy has an end date, but the “temporary” USC does not?
Are you only coping on to that now?
Well, ye know, it just happened like
The banks slashed the interest rates on deposits last week, all of them, my Boi account has gone from 1.75% to 0.03%.
It’s almost as if they knew what was in the budget in advance.
But of course that wouldn’t be possible now, would it?
Any journalists going to investigate?
Iris journalists don’t investigate just regurgitate!
total funding for the six banks by the ECB and the Irish Central Bank came to about €150 billion;
150 million x 2 years x 6 banks = ?
oh and that was up to 2011, Its not counting this year.
Dont know why banks were levied they will just add a bit more on and pass it on to customers
Because under law a levy is not a tax so in Government La La land world they can claim they did not raise tax.
Meanwhile in the real world we know this is a Governmemt tax as it will be paid by the people through higher bank charges.
Open a bank account in Turkey. They’re paying up to 15% (depending on the bank, and there are plenty to choose from) interest on all deposits, access to your money whenever you want and citizenship not necessary. I sh*t you not. It does obviously help to have contacts though.
Wow! We should all move to Turkey !!
Don’t have to live there either Michael and they’re outside the control of Europe. I’m lucky enough to have some business contacts there and they put their strong economy down to Arab investment. Worth having a look at. I’m just back from Istanbul and the amount of investment there at the moment is staggering.
Above comment was meant as a reply to your’s Michael. Ghost in the machine methinks.
I presume that our esteemed minister for finance added a clause prohibiting the banks from simply raising customer charges to make the money they will need to pay this ???? I don’t think !
Surely they mean “levy on bank customers”?
The banks will just pass it on to all of us like the snake in the grass serpents they are.
Wonderful piece of stealth taxation. I’d say the banks are devastated
Passing it on to customers in 3, 2, 1
how can working people avoid the banks when most people are payed direct into the bank and u have to pay to pay to get ur money out. is it not about time we said no we want cash we are going backwards.
have your say