Then, on Nov. 18, at their monthly meeting on the 36th floor of the ECB headquarters, Europe's central bankers delivered an ultimatum to their Irish counterpart, Patrick Honohan: The ECB would disallow use of the Irish central bank's emergency loan program unless Ireland took the bailout.
New York's insurance regulator, Eric Dinallo, is involved in discussions at the New York Fed about AIG, asking the central bank to provide the bridge loan.
As you know and have written on extensively, the ELA debt for IBRC was administered in 3 contractual arrangements between IBRC and Central Bank of Ireland, the Master Loan Repurchase Agreement (MLRA), Special Master Loan Repurchase Agreement (SMRA) and the Facility Deed (FD).
Austria's central bank has said that Austrian bank subsidiaries in central and eastern Europe should not exceed a loan-to-deposit ratio of 110%, a way of ensuring that their funding needs do not make too great a call on resources back at headquarters.
Where that leaves the loan is not clear: The central bank's spokesman said that an Icelandic delegation would travel to Moscow to "finalize" the financial situation.
How, Chaturon asks, could the central bank governor launch an investigation into the non-performing-loan scandal at Krung Thai Bank last year when he used to be chairman of that state-owned institution.
Western Europe seems to have bypassed a much-hyped second whammy in the credit crisis from a debt bubble in Eastern Europe, thanks to loan support from institutions like the IMF and European Central Bank.
Australian home-loan approvals are down for a third month despite the central bank cutting its main interest rates.
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Loan growth is wilting and a survey by the European Central Bank (ECB) suggests that lending conditions are becoming stricter.
"The reserve ratio rise is a signal that the central bank is still in liquidity tightening mode and is very keen to control loan growth, " said a trader at a European bank in Shanghai.
The Commission has warned that negotiations on the loan will not resume until Hungary amends its law on the central bank.
The Central Bank of China lowered reserve requirement ratios, which gives banks more money to loan rather than keeping cash on reserve.
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Chinese bankers, on the other hand, have been slower to lend, even with the Central Bank allowing the big state banks to use more of its cash reserves to loan to customers.
The Fed also cut the discount rate, which it charges banks for overnight loans, 50 basis points to 5.25%, a sign the central bank is still concerned about the lingering effects of a credit crunch that has rocked the bond and loan markets.
Their deposit-taking more than matches their loan-making, and they keep a fifth of their deposits in reserve at the central bank.
In the way of background, I am an international banker by training, having served as a Vice President in the International Department of the Chase Manhattan Bank with responsibility for Chase's loan portfolios in the former Soviet Union, Eastern and Central Europe and Yugoslavia.
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