AIB, Bank of Ireland and Permanent TSB have seen a combined €3.66 billion wiped off their value
Apple tax case heads back to court, Bank of Ireland’s share awards and what next for Silicon Valley Bank
“We believe strong liquidity in Europe and bank’s balance sheet structure would avoid any forced unwinding or selling of bonds or swap [derivative] portfolios,” said Morgan Stanley analysts including Alvaro Serreno in a report, adding that “increased deposit competition should be gradual”.Euro zone banks have €86 on loan for every €100 they hold on deposit, according to the analysts. AIB had a loan-to-deposit ratio of 58 per cent at the end of December, forcing it to place €37.
“We expect deposit betas to gradually increase this year, more so in corporate versus retail.” Deposit betas refer the proportion of central bank rate hikes that are passed on to customers. New York-based Signature Bank, a lender with a big property lending business that had also recently become a major bank to the cryptocurrency industry, also collapsed over the weekend. The US Treasury Department, Federal Reserve and Federal Deposit Insurance Corporation said in a joint statement Sunday evening that all depositors in SVB and Signature will be made whole.While there is growing speculation that the Federal Reserve will rethink a previously widely-expected 0.
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