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BLOOMBERG ARE REPORTING that Permanent TSB has failed European Central Bank Stress tests and will need additional capital of between €700 million to €800 million.
Extra funding for the state-owned bank would not necessarily come from the taxpayer but Permanent TSB’s failure of the tests is the first such failure by an Irish bank.
Bloomberg say that the results will be officially announced on Sunday but that a source has told them that Permanent TSB failed the most extreme stress test case.
The bank will now have two weeks to formulate a plan about how to raise funds with it being highly likely that that they will seek to raise the additional capital on the stock market.
The ECB stress tests place a bank’s finances under a series of hypothetical scenarios to see if they would cope would adverse economic conditions.
In its latest results, Permanent TSB recorded a half-year loss of €171 million, a 62% decrease on the operating loss it recorded in the previous year.
I know there’s a few of them in the Kremlin
@David Haye: St Patrick missed a few here too
@Stefan Epure: anybody in particular?
@David Haye: the dail is full of them
@David Haye: Such a band wagon comment. Yeah, what putin is doing is awful but what about all the snakes in the US government? No comments on them? Oh no wait a minute, your media has never said a bad word about them so they’re OK? Even though each and every president since Clinton was probably a war criminal too, probably before Clinton too. Anyway, as you were, carry on ridiculous, sorry I mean regardless.
@The Irish Ranger: cool story bro
“How much do you know about snakes?” I know enough about them to stay away from them.
Sssslippery quiz
Yup I know they are cold blooded and the myth of Staint Patrick, I know they shed their skin, that’s about it. But I got four right. I’m surprised
Guessed 5 of the questions and got my first 10 ,Happy Days
9/10. Maybe I should cut down on nature documentaries!
@Carrie Poettcker: likewise
have your say