Wednesday, November 17, 2010

Ireland: Debt Crisis team arrives Thursday

by Calculated Risk on 11/17/2010 04:50:00 PM

A few details from the Financial Times: Dublin feels pressure on rescue package

  • Irish bank customers have withdrawn an estimated 11% of deposits over just a few weeks.
  • The Irish banks are now relying heavily on the ECB for liquidity.
  • The "rescue team" (IMF, European Central Bank, and European Commission officials) arrive on Thursday.
  • LCH.Clearnet (large clearing house) today doubled the margin requirements for Irish sovereign debt.

    Also from the WSJ: Ireland Braces for Bank Exam