Danske can deal in government bonds €9.7bn of mortgages may be downgraded Workers reject NIB pension proposal Air passenger traffic with UK falls 3pc
Published 15/10/2010 | 05:00
DANSKE Bank has been named as a primary dealer for Irish government bonds, becoming the 16th member of a group of intermediaries that can bid in new bond issuances. In a statement yesterday, the National Treasury Management Agency said Danske would "add to the depth and liquidity of the market and further enhance the profile of Irish government bonds for investors". Bank of Ireland is also believed to be mulling opening a government bond desk. Of the 16-strong group of primary dealers, just one -- Davy's -- is Irish.
€9.7bn of mortgages may be downgraded
Ratings agency Moody's has put €9.7bn of Irish residential mortgages under review for possible downgrade. The move is the latest follow-on from Moody's decision to put Ireland's sovereign debt rating under review for a possible downgrade. Moody's placed 15 separate bundles of residential mortgage-backed securities (RMBS) under review. RMBS packages allow banks to bundle up and sell large numbers of residential mortgages to third-party investors. Moody's said at the end of August 4.8pc of prime Irish RMBS portfolios were more than 90 days delinquent, up from 4.1pc in May.
Workers reject NIB pension proposal
NATIONAL Irish Bank (NIB) was last night "considering" returning to the negotiating table on its pension proposal after a ballot of workers almost unanimously rejected the bank's recent decision to close its defined benefit scheme. The Irish Bank Officials' Association yesterday said "more than 95pc" of its members had "rejected" the decision to close the scheme, which guarantees specific levels of payment on retirement. The union is asking NIB to return to talks. A spokesman for the bank last night said the bank was "considering" the request for further talks.
Air passenger traffic with UK falls 3pc
The level of scheduled air passenger traffic between the UK and Ireland continued its downward trajectory last month, with the number of passengers travelling between the two jurisdictions slipping 3pc to 842,479 compared to September last year-- according to data from the Civil Aviation Authority in Britain. The fall follows an 8pc year-on-year decline in overall scheduled passenger traffic recorded between the UK and Ireland in August.