Bloomberg News

Irish-Based Banks’ ECB Reliance Rises to 100.4 Billion Euros

October 14, 2011

Oct. 14 (Bloomberg) -- Irish-based lender’s borrowings from the European Central Bank rose to 100.4 billion euros on Sept. 30 from 97.9 billion euros at the end of the previous month, according to an Irish central bank spokesman by telephone.

The Irish central bank’s “other assets ” stood at 53.3 billion euros at the end of September, compared with 55.9 billion euros in the previous month. The Dublin-based central bank has said that “other assets” includes “exceptional liquidity assistance lending” for Irish banks, without giving more details.

Ireland’s six state-guaranteed banks account for about 70 percent of the ECB reliance figure, according to a Finance Ministry presentation published on its website Oct. 7.

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net


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