ANGLO TO PREDICT LOAN DEFAULT

Anglo Irish Bank is looking for a new computer system to predict the probability of customers defaulting on their debts, The Sunday Business Post reports in an article that may lead many people to believe this is a leftover piece from its April 1 edition.

The bank wants a balance sheet management system and has circulated a confidential document to a number of technology consultancy firms over the past few days. The documents outline a wide range of requirements including the ability to produce current and projected capital ratios.

The newspaper notes “capital ratios are a significant issue for Anglo, which has written off more than €12 billion in bad loans”. Indeed!