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ELA, promissory notes and all that : the fiscal costs of Anglo Irish Bank

Author

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  • Karl Whelan

Abstract

This is a briefing paper the author distributed to the Irish parliamentary committee responsible for finance and public expenditure. It describes the balance sheet of Irish Bank Resolution Corporation, the organisation that was formed by combining Anglo Irish Bank and Irish Nationwide Buildings Society. The nature of the long-run cost to the Irish state of taking over the liabilities of these institutions is outlined and suggestions are made for reducing these costs.

Suggested Citation

  • Karl Whelan, 2012. "ELA, promissory notes and all that : the fiscal costs of Anglo Irish Bank," Working Papers 201206, School of Economics, University College Dublin.
  • Handle: RePEc:ucn:wpaper:201206
    as

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    File URL: http://hdl.handle.net/10197/3718
    File Function: First version, 2012
    Download Restriction: no

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    References listed on IDEAS

    as
    1. Cussen, Mary & Lucey, Mick, 2011. "Treatment of Special Bank Interventions in Irish Government Statistics," Quarterly Bulletin Articles, Central Bank of Ireland, pages 78-92, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. The ECB and Loss-Sharing
      by kwhelan in Karl Whelan on 2012-03-09 00:20:29
    2. The ECB and Bankia
      by kwhelan in Karl Whelan on 2012-05-30 13:45:22
    3. Ireland Debt Negotiations: Not About Interest Rate on Promissory Note
      by kwhelan in Karl Whelan on 2012-07-20 16:37:53

    Citations

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    Cited by:

    1. Jean Pisani-Ferry & André Sapir & Guntram B. Wolff, . "EU-IMF assistance to euro area countries: an early assessment," Blueprints, Bruegel, number 779.
    2. Whelan, Karl, 2014. "Ireland’s Economic Crisis: The Good, the Bad and the Ugly," Journal of Macroeconomics, Elsevier, vol. 39(PB), pages 424-440.
    3. Dübel, Achim, 2013. "The capital structure of banks and practice of bank restructuring," CFS Working Paper Series 2013/04, Center for Financial Studies (CFS).
    4. Jörg Bibow, 2015. "The euro's savior? Assessing the ECB's crisis management performance and potential for crisis resolution," IMK Studies 42-2015, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    5. Sebastian Dellepiane & Niamh Hardiman, 2013. "The politics of fiscal effort in Spain and Ireland: Market credibility versus political legitimacy," Working Papers 201321, Geary Institute, University College Dublin.
    6. Gregory Connor & Thomas Flavin & Brian O'Kelly, 2015. "Restructuring and Recovery of the Irish Financial Sector: An Economic Case History V2," Economics, Finance and Accounting Department Working Paper Series n259-15.pdf, Department of Economics, Finance and Accounting, National University of Ireland - Maynooth.

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