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Irish Banks Most Vulnerable In Stress Tests – UK Banks RBS and Barclays At Risk

Companies / Financial Markets 2016 Aug 08, 2016 - 02:31 PM GMT

By: GoldCore

Companies

– Irish banks vulnerable in stress tests: AIB/ BofI amongst worst 5 banks in EU
– Ulster Bank’s parent Royal Bank of Scotland emerged as 2nd worst bank
– AIB, Banca MPS especially vulnerable & ‘failed’ in adverse scenario (see table)
– Impairment of financial assets was the largest negative contributor to results
– Bad loans continue to pose risks to Irish financial system


– Diversification of deposits & allocation to gold prudent for individuals & companies
– Experts advise diversifying into gold – Eddie Hobbs, Jill Kerby, Dr Gurdgiev, Dr Lucey, Jim Power, Cormac Lucy etc

Irish banks AIB and Bank of Ireland, are some of the most vulnerable banks in Europe according to the European Banking Authority stress test of capital strength, which examined 51 institutions across 15 countries and was released last week. Italy’s Monte dei Paschi (MPS) and the UK’s Royal Bank of Scotland, which owns Ulster Bank, emerged as the biggest losers in the stress tests.

The country’s two main lenders, Allied Irish Banks (ALBK.I) and Bank of Ireland (BKIR.I), saw sharp falls in their share prices and they were placed second and fourth worst respectively among the 51 banks scrutinised over their ability to withstand a three-year economic shock.

An economic shock which seems increasingly likely after the Brexit vote, the increasing risks posed by the insolvent Italian, Portuguese and Greek banking system and the risk of systemic contagion should a large country or indeed bank go bankrupt.

S&P Global Ratings said last week about a fifth of Irish loans are still not being fully repaid and Irish banks now have to contend with the economic fallout from the U.K.’s decision to exit the European Union. As Bloomberg report today:

“Concern has been amplified by Brexit. In the wake of the June 23 vote, S&P cut its forecast for Irish economic growth next year to 3.2 percent from 3.8 percent, and warned that loan losses could rise should Britain’s departure from the EU have a greater impact. The U.K. is Ireland’s biggest trading partner after the U.S.”

Experts continue to urge diversification and owning gold as a way to protect against deposit confiscation and bail-ins in the event that Irish banks get into difficulty again.

Eddie Hobbs recently warned that central bankers are again causing financial bubbles and warned that the “vast expansion of central-bank money-printing operations is having a diminishing effect on economies and that chickens are coming home to roost.” Hobbs concluded his piece in the Examiner saying that

“If you haven’t yet bought some gold, you’d be well advised to do so…”

Gold bullion will continue to protect those who own it as part of an overall diversification strategy and as crucial financial insurance in investment and savings portfolios. Diversification of investments is accepted as common sense. Today, it is prudent to diversify deposits and not have all your cash in one bank or indeed in one country’s banking system.

Today Dr Constantin Gurdgiev, Dr Brian Lucey, Eddie Hobbs, Jim Power, Cormac Lucy, Jill Kerby and others are all advocating diversification into gold again.

Prudent individuals are preparing again sensing we are on the verge of the next stage of the global financial crisis. Indeed, we are seeing more inquiries and demand from companies diversifying into gold then ever before. They are concerned about their deposits and the risks posed by negative interest rates, currency devaluations and deposit bail-ins.

“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails …”

7RealRisksBanner

Gold Prices (LBMA AM)

08Aug: USD 1,330.00, GBP 1,019.84 & EUR 1,198.86 per ounce
05Aug: USD 1,362.60, GBP 1,036.39 & EUR 1,222.53 per ounce
04Aug: USD 1,351.15, GBP 1,016.61 & EUR 1,213.87 per ounce
03Aug: USD 1,364.40, GBP 1,023.16 & EUR 1,218.96 per ounce
02Aug: USD 1,358.15, GBP 1,025.13 & EUR 1,213.10 per ounce
01Aug: USD 1,348.85, GBP 1,022.97 & EUR 1,207.76 per ounce
29Jul: USD 1,332.50, GBP 1,012.03 & EUR 1,200.18 per ounce

Silver Prices (LBMA)

08Aug: USD 19.66, GBP 15.04 & EUR 17.74 per ounce
05Aug: USD 20.22, GBP 15.36 & EUR 18.14 per ounce
04Aug: USD 20.16, GBP 15.25 & EUR 18.11 per ounce
03Aug: USD 20.59, GBP 15.43 & EUR 18.39 per ounce
02Aug: USD 20.71, GBP 15.65 & EUR 18.51 per ounce
01Aug: USD 20.51, GBP 15.56 & EUR 18.37 per ounce
29Jul: USD 20.04, GBP 15.20 & EUR 18.03 per ounce

This update can be found on the GoldCore blog here.

Mark O'Byrne

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WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

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