AIB, AGAIN
All of the broadsheets note the likely formal state takeover of AIB this week – just what the taxpayer didn’t want for Christmas.
Tag: banks
4 YEAR STATE SOLIDARITY BOND
Preparations for a new four-year state solidarity bond will accelerate after the upcoming budget and is expected to be launched in mid-January, The Sunday Business Post reports.
PTSB & INVESTMENT PROPERTIES
Residential property prices look set to tumble yet further following a demand from Permanent TSB to thousands of buy-to-let borrowers on their books to begin paying off in full their mortgages on investment properties.
THE GAME IS UP
Armageddon, Doomsday. Take your pick of scenarios – the main stories on all of the quality Sundays are practically interchangeable; and the end is most definitely nigh.
MORTGAGE ARREARS
Home owners who have already negotiated payment breaks on their mortgages may also be able to avoid paying interest on up to a third of their loans over several years under new Government proposals due to be published this week.
MORTGAGE ARREARS
Banks have renegotiated the terms on up to €10 billion in mortgages for hard-pressed borrowers, according to a report in The Sunday Tribune.
BORROWING FROM BERLIN
The National Treasury Management Agency (NTMA) may as well “pack its bags for next year” because it hasn’t the proverbial snowball’s chance in hell of raising a red cent from international bond markets, according to lead story in The Sunday Tribune.
BANK CARDS
The once ubiquitous Laser card, launched by Irish banks in 1996 as part of an initiative to replace cheques, could become redundant as early as next year following a decision by Bank of Ireland to switch its customers to Visa, The Sunday Times reports.
NAMA PAY DEAL
Developers are still sitting pretty according to reports in a couple of the papers. “Builders get Nama pay deal” in The Sunday Times reports that the top 10 developers – who owe billions to the state and whose assets have transferred to Nama – will be allowed to pay themselves up to €200,000 salary a year and hold on to their homes while their property assets are worked out over the next five to 10 years.
DAVID DRUMM
In newspaper parlance, the “get” of the week is The Sunday Independent interview with former Anglo Irish Bank chief David Drumm, who filed for bankruptcy in Massachusetts last week. Normally the chances of anyone in this position granting an interview is slim to none (just ask Charlie Bird after his unsuccessful attempt to doorstep Mr Drumm at his Cape Cod mansion earlier this year).
INCREASED INTEREST CHARGES FOR AIB CREDIT CARD HOLDERS
AIB credit card holders can expect to pay an extra month’s interest on unpaid balances, even if they are only a few days late, according to The Sunday Times.
MORTGAGE ARREARS
Banks face foregoing millions of euro in mortgage repayment income as a result of radical recommendations from a Department of Finance expert committee that would allow struggling debtors delay payment on up to 33% of their home loans for several years, The Sunday Independent reports.
GET OUT OF DODGE
Competition may be opening up in other sectors of the economy such as utilities but when it comes to banks, the sector is shrinking as the foreigners fold their tents and get the hell out of Dodge.