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 Post subject: IMF's 12th report of Ireland’s bailout program
PostPosted: Thu Dec 19, 2013 5:18 pm 
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Irish Bank Provisions Rise to Speed Loan Restructures, IMF Says
2013-12-19 16:00:00.7 GMT
By Joe Brennan
Dec. 19 (Bloomberg) -- Irish central bank pressure on the nation’s bailed-out lenders to increase loan-loss provisions after assessing their balance sheets will speed up the restructuring of distressed loans, according to the International Monetary Fund.
* The central bank finds it “appropriate” that banks book a
“significant increase in provisioning,” the IMF says in
12th report of Ireland’s bailout program
* Says increase largely reflects collateral valuations and
fact that central bank is pressing banks to initially
still classify restructured loans as impaired assets
* Says some banks may need to increase their risk-weighted
asset levels
* Says while banks currently don’t need more capital, with
14.1% end-June average core Tier 1 ratios above 10.5%
regulatory minimum, this doesn’t exclude potential for
capital needs after ECB stress tests next year
* Says ability to forecast banks’ profits is impacted by their
inability to assess revenue contributions from non-
performing, modified and forborne loans “as the banks
continue to accrue and capitalize an unspecified amount of
interest income that is not actually paid”


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