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Irish banks took a hammering on the public markets on Monday, as investors moved to dump financial stocks on both sides of the Atlantic in the wake of the collapse of Silicon Valley Bank. Joe Brennan reports.
The fallen bank had a lot of Irish customers, Minister for Finance Michael McGrath told reporters at the latest Eurogroup meeting in Brussels. Naomi O’Leary was at the scene.
In Your Money, Dominic Coyle answers questions on the best way to pay for a nursing home, as well as a question of if a son’s wife will inherit a parents home. Joanne Hunt meanwhile highlights the issues landlords need to take into account if they plan to sell up. If you want more personal finance, you can sign up to our weekly newsletter On The Money here.
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Back with Silicon Valley Bank, Martin Wall assesses where the turmoil leaves the US banking system, while Ian Curran reports on renewed pressure on crypto assets as a result of the collapse.
Closer to home, An Bord Pleanála has described as “stunning” a request for further hearing of legal argument in a High Court action concerning 416 housing units on a site at Dublin’s South Circular Road. Ellen O’Riordan was in the courtroom.
In her column, Laura Slattery runs the rule over Gary Lineker row at the BBC.
AIB may move next year to reduce the level of expensive regulatory capital it must hold by entering into contracts to move loan-loss risks on parts of its mortgage and corporate parties off its balance sheet. Joe has the details.
Staying with banking, Joe also reports on the Central Bank’s move to launch a consultation process on rules to make it easier to pursue individual bankers for wrongdoing.
The Banking and Payments Federation of Ireland has warned new home construction is likely to fall this year. Ian has the report.
In the week of the Oscars, Screen Ireland has warned that a shortage of key skills and crew is inhibiting further development, while other talent is being “lost” to the industry. Laura reports.
Meanwhile Finance Ireland has raised its interest rates for some mortgage borrowers, in its latest response to the European Central Bank hiking rates. Ian has the story.
Dublin City Council has refused planning permission for an office building near Portobello House in Dublin. Gordon Deegan has the details.
Finally Cantillon assesses what next for SVB’s Irish customers, and the ongoing process that is holding individual bankers accountable for wrongdoing, while also questioning where housing development is in the State.
