Financial Measures Programme | Central Bank of Ireland

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class="sf_cols row"> <div class="col-sm-8 main-content"> <article id="MainContentPlaceholder_T225F410C013_Col00" class="sf_colsIn" data-placeholder-label="Main Content"><h1>Financial Measures Programme Report</h1> The Financial Measures Programme Report was published on Thursday 31st March 2011, detailing the outcome of a review of the capital and funding assessments of the domestic Irish banks.<br /> <a href="/docs/default-source/publications/financial-measures-programme/the-financial-measures-programme-report.pdf?sfvrsn=6bd4ac1d_2" class="document-download pdf" target="_blank"> <strong>The Financial Measures Programme Report</strong> | pdf 7811 KB </a> <h2>Addendum to the Financial Measures Programme Report</h2> <p>On Tuesday 31st May 2011 an Addendum to the Financial Measures Programme Report was published, detailing the results of an independent review of Anglo Irish Bank and Irish Nationwide Building Society.</p> <a href="/docs/default-source/publications/financial-measures-programme/addendum-to-the-financial-measures-programme-report.pdf?sfvrsn=74d4ac1d_2" class="document-download pdf" target="_blank"> <strong>Addendum to the Financial Measures Programme Report</strong> | pdf 314 KB </a> <h2>PCAR 2011 Review</h2> A PCAR 2011 Review was published on Friday 1st March 2013, detailing an analysis of PCAR banks up to end-June 2012 compared to PCAR 2011. <a href="/docs/default-source/publications/financial-measures-programme/pcar-2011-review.pdf?sfvrsn=6ed4ac1d_3" class="document-download pdf" target="_blank"> <strong>PCAR 2011 Review</strong> | pdf 2264 KB </a> <a href="http://www.ecb.europa.eu/press/pr/date/2011/html/pr110331_1.en.html" target="_blank">View related press releases from EC, ECB and IMF published on 31 March 2011</a>. <h2>Frequently Asked Questions </h2> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Q1-What-is-the-Central-Bank-doing-f8478efb-cfc8-40ae-a28f-d776f20d920b"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Q1-What-is-the-Central-Bank-doing-f8478efb-cfc8-40ae-a28f-d776f20d920b" aria-expanded="false" aria-controls="Q1-What-is-the-Central-Bank-doing-f8478efb-cfc8-40ae-a28f-d776f20d920b"> <strong class="gtm-expanding">Q1. What is the Central Bank doing?</strong> </a> </div> </div> <div id="Q1-What-is-the-Central-Bank-doing-f8478efb-cfc8-40ae-a28f-d776f20d920b" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Q1-What-is-the-Central-Bank-doing-f8478efb-cfc8-40ae-a28f-d776f20d920b" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> The Central Bank has again reviewed the level of capital reserves set aside by Irish banks.   Capital acts as a cushion against losses. The results of this exercise have determined that banks should hold higher levels of capital reserves into the future.  These higher requirements should ensure that banks emerge from the current difficulties in a stronger position.   The new capital reserves are designed to cover expected losses for the next three years.   <br /> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Q2-What-is-Capital-5294e66c-c688-4bf4-aba2-9caac603ee0c"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Q2-What-is-Capital-5294e66c-c688-4bf4-aba2-9caac603ee0c" aria-expanded="false" aria-controls="Q2-What-is-Capital-5294e66c-c688-4bf4-aba2-9caac603ee0c"> <strong class="gtm-expanding">Q2. What is Capital?</strong> </a> </div> </div> <div id="Q2-What-is-Capital-5294e66c-c688-4bf4-aba2-9caac603ee0c" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Q2-What-is-Capital-5294e66c-c688-4bf4-aba2-9caac603ee0c" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> In banking, capital comprises mainly share capital, capital contributions, reserves, and certain types of debt and financial instruments. Capital acts as a cushion against losses, it can be seen as a measure of financial health.  Capital is depleted when banks experience losses.<br /> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Q3--Why-do-the-banks-need-higher-capital-reserves-1d140eef-ffd5-4cd4-8789-b3b12db3511f"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Q3--Why-do-the-banks-need-higher-capital-reserves-1d140eef-ffd5-4cd4-8789-b3b12db3511f" aria-expanded="false" aria-controls="Q3--Why-do-the-banks-need-higher-capital-reserves-1d140eef-ffd5-4cd4-8789-b3b12db3511f"> <strong class="gtm-expanding">Q3. Why do the banks need higher capital reserves?</strong> </a> </div> </div> <div id="Q3--Why-do-the-banks-need-higher-capital-reserves-1d140eef-ffd5-4cd4-8789-b3b12db3511f" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Q3--Why-do-the-banks-need-higher-capital-reserves-1d140eef-ffd5-4cd4-8789-b3b12db3511f" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> The banks need higher capital reserves to cover future loan losses and to restore confidence in the Irish banking system internationally. <br /> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Q4--How-much-capital-will-the-banks-need-14c86e12-eb43-485f-90ad-d7580dd602f2"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Q4--How-much-capital-will-the-banks-need-14c86e12-eb43-485f-90ad-d7580dd602f2" aria-expanded="false" aria-controls="Q4--How-much-capital-will-the-banks-need-14c86e12-eb43-485f-90ad-d7580dd602f2"> <strong class="gtm-expanding">Q4. How much capital will the banks need?</strong> </a> </div> </div> <div id="Q4--How-much-capital-will-the-banks-need-14c86e12-eb43-485f-90ad-d7580dd602f2" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Q4--How-much-capital-will-the-banks-need-14c86e12-eb43-485f-90ad-d7580dd602f2" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> Collectively the four banks will be required to raise €24bn in capital in order to remain above a minimum capital target of 10.5% Core Tier 1 in the base scenario and 6% Core Tier 1 in the stress scenario, plus allowing for an additional protective buffer. Each bank must meet a liquidity requirement of a target loan to deposit target ratio of 122.5% by 2013, through a combination of run-off and disposals of non-core assets.  Please see the press release for individual bank figures.<br /> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Q5--How-did-the-Central-Bank-arrive-at-these-figuresnew-capital-requirements-19491a0e-f620-4eab-8e45-f420c170cb54"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Q5--How-did-the-Central-Bank-arrive-at-these-figuresnew-capital-requirements-19491a0e-f620-4eab-8e45-f420c170cb54" aria-expanded="false" aria-controls="Q5--How-did-the-Central-Bank-arrive-at-these-figuresnew-capital-requirements-19491a0e-f620-4eab-8e45-f420c170cb54"> <strong class="gtm-expanding">Q5. How did the Central Bank arrive at these figures/new capital requirements?</strong> </a> </div> </div> <div id="Q5--How-did-the-Central-Bank-arrive-at-these-figuresnew-capital-requirements-19491a0e-f620-4eab-8e45-f420c170cb54" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Q5--How-did-the-Central-Bank-arrive-at-these-figuresnew-capital-requirements-19491a0e-f620-4eab-8e45-f420c170cb54" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> Please see the press release and report on the Financial Measures Programme that are published on our website.  The report includes stress tests based on adverse macro economic scenarios to establish the capital needs of banks over the next three years.  <br /> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Q6-Where-is-the-funding-coming-from---How-will-the-Irish-banks-meet-this-new-capital-requirement-e7e4c759-e35f-4de8-bbda-68a885ed4903"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Q6-Where-is-the-funding-coming-from---How-will-the-Irish-banks-meet-this-new-capital-requirement-e7e4c759-e35f-4de8-bbda-68a885ed4903" aria-expanded="false" aria-controls="Q6-Where-is-the-funding-coming-from---How-will-the-Irish-banks-meet-this-new-capital-requirement-e7e4c759-e35f-4de8-bbda-68a885ed4903"> <strong class="gtm-expanding">Q6. Where is the funding coming from? How will the Irish banks meet this new capital requirement?</strong> </a> </div> </div> <div id="Q6-Where-is-the-funding-coming-from---How-will-the-Irish-banks-meet-this-new-capital-requirement-e7e4c759-e35f-4de8-bbda-68a885ed4903" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Q6-Where-is-the-funding-coming-from---How-will-the-Irish-banks-meet-this-new-capital-requirement-e7e4c759-e35f-4de8-bbda-68a885ed4903" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> As part of the EU/IMF rescue package, €35 billion has been set aside for capitalisation of Irish banks. </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Q7--What-does-this-mean-for-my-bank-462bdb75-745d-4fc0-b115-c4990fb08b0b"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Q7--What-does-this-mean-for-my-bank-462bdb75-745d-4fc0-b115-c4990fb08b0b" aria-expanded="false" aria-controls="Q7--What-does-this-mean-for-my-bank-462bdb75-745d-4fc0-b115-c4990fb08b0b"> <strong class="gtm-expanding">Q7. What does this mean for my bank?</strong> </a> </div> </div> <div id="Q7--What-does-this-mean-for-my-bank-462bdb75-745d-4fc0-b115-c4990fb08b0b" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Q7--What-does-this-mean-for-my-bank-462bdb75-745d-4fc0-b115-c4990fb08b0b" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> Recapitalising the banks will mean that they are in a stronger position to meet expected loan losses. </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Q8-What-does-it-mean-for-me-814f52c5-debb-490c-bb37-5e6546b5c223"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Q8-What-does-it-mean-for-me-814f52c5-debb-490c-bb37-5e6546b5c223" aria-expanded="false" aria-controls="Q8-What-does-it-mean-for-me-814f52c5-debb-490c-bb37-5e6546b5c223"> <strong class="gtm-expanding">Q8. What does it mean for me?</strong> </a> </div> </div> <div id="Q8-What-does-it-mean-for-me-814f52c5-debb-490c-bb37-5e6546b5c223" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Q8-What-does-it-mean-for-me-814f52c5-debb-490c-bb37-5e6546b5c223" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>This development will make no difference to how you interact with your bank and you can expect your business to be handled as normal. Branches will continue to open as normal and the staff there will continue to assist you with your banking requirements.</p> <p>Deposits will continue to be covered by the Deposit Guarantee Scheme and the Eligible Liabilities Guarantee Scheme 2010.</p> <br /> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Q9-Is-my-money-safe-59f60929-c2a0-46cf-a1b9-fefe1470dc53"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Q9-Is-my-money-safe-59f60929-c2a0-46cf-a1b9-fefe1470dc53" aria-expanded="false" aria-controls="Q9-Is-my-money-safe-59f60929-c2a0-46cf-a1b9-fefe1470dc53"> <strong class="gtm-expanding">Q9. Is my money safe?</strong> </a> </div> </div> <div id="Q9-Is-my-money-safe-59f60929-c2a0-46cf-a1b9-fefe1470dc53" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Q9-Is-my-money-safe-59f60929-c2a0-46cf-a1b9-fefe1470dc53" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>Yes.  The Deposit Guarantee Schemes currently in place for depositors are as follows:</p> <p>A. Existing deposits are protected under the Deposit Guarantee Scheme up to a limit of €100,000 per person per institution. See <a href="http://www.nca.ie">www.nca.ie</a> for a list of participating banks. </p> <p>B. The Deposit Guarantee Scheme is supplemented by the government guarantee scheme which guarantees the balance of deposits in excess of €100,000. See <a href="http://www.nca.ie">www.nca.ie</a> for a list of participating banks in each scheme </p> <p>C. If you have a term deposit (up-to 5 years) that was made after your institution joined the Eligible Liabilities Guarantee Scheme then you are protected to maturity. Check with your bank. </p> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Q10--I-am-a-UK-resident--Are-my-savings-protected-applies-to-any-nonresident-c5dc5664-e3d8-4405-985a-0a18e2bdc6ee"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Q10--I-am-a-UK-resident--Are-my-savings-protected-applies-to-any-nonresident-c5dc5664-e3d8-4405-985a-0a18e2bdc6ee" aria-expanded="false" aria-controls="Q10--I-am-a-UK-resident--Are-my-savings-protected-applies-to-any-nonresident-c5dc5664-e3d8-4405-985a-0a18e2bdc6ee"> <strong class="gtm-expanding">Q10. I am a UK resident. Are my savings protected? (applies to any non-resident)</strong> </a> </div> </div> <div id="Q10--I-am-a-UK-resident--Are-my-savings-protected-applies-to-any-nonresident-c5dc5664-e3d8-4405-985a-0a18e2bdc6ee" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Q10--I-am-a-UK-resident--Are-my-savings-protected-applies-to-any-nonresident-c5dc5664-e3d8-4405-985a-0a18e2bdc6ee" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> The current Deposit Guarantee Scheme (limit €100,000) and the Eligible Liabilities Guarantee Scheme(over €100,000) covers all deposits with Irish banks.  Go to <a href="http://www.nca.ie">www.nca.ie</a> for more info and check with your bank.<br /> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Q11--Does-my-daytoday-banking-service-change-eg-do-I-continue-to-earn-interest-on-my-deposits-make-my-rescheduled-repayments-continue-discussions-about-rescheduling-loans-etc-e6153898-4ac0-48b3-8d41-35dba12ac318"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Q11--Does-my-daytoday-banking-service-change-eg-do-I-continue-to-earn-interest-on-my-deposits-make-my-rescheduled-repayments-continue-discussions-about-rescheduling-loans-etc-e6153898-4ac0-48b3-8d41-35dba12ac318" aria-expanded="false" aria-controls="Q11--Does-my-daytoday-banking-service-change-eg-do-I-continue-to-earn-interest-on-my-deposits-make-my-rescheduled-repayments-continue-discussions-about-rescheduling-loans-etc-e6153898-4ac0-48b3-8d41-35dba12ac318"> <strong class="gtm-expanding">Q11. Does my day-to-day banking service change e.g., do I continue to earn interest on my deposits, make my rescheduled repayments, continue discussions about rescheduling loans etc?</strong> </a> </div> </div> <div id="Q11--Does-my-daytoday-banking-service-change-eg-do-I-continue-to-earn-interest-on-my-deposits-make-my-rescheduled-repayments-continue-discussions-about-rescheduling-loans-etc-e6153898-4ac0-48b3-8d41-35dba12ac318" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Q11--Does-my-daytoday-banking-service-change-eg-do-I-continue-to-earn-interest-on-my-deposits-make-my-rescheduled-repayments-continue-discussions-about-rescheduling-loans-etc-e6153898-4ac0-48b3-8d41-35dba12ac318" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> This development will make no difference to how you interact with your bank and you can expect your business to be handled as normal. Branches will continue to open as normal and the staff there will continue to assist you with your banking requirements. </div> </div> </div> </article> </div> <div id="MainContentPlaceholder_T225F410C013_Col01" class="sf_colsIn col-sm-4 rhs" data-placeholder-label="General Right hand side"><aside id="MainContentPlaceholder_T225F410C014_Col00" class="sf_colsIn aside-sec" data-placeholder-label="Aside widgets"> </aside> <nav aria-labelledby="rhsheadingtwo"> <h3 class="sidebar-heading-icon icon-bars hidden-xs" id="rhsheadingtwo"> In this Section </h3> <div class="right-sidebar hidden-xs"> <ul class="left-nav"> <li class=""> <a href="/publication/behind-the-data">Behind the Data</a> </li> <li class=""> <a href="/publication/consultation-papers">Consultation Papers</a> </li> <li class=""> <a href="/publication/consumer-protection-research">Consumer Protection Research</a> </li> <li class=""> <a href="/publication/correspondence">Correspondence</a> </li> <li class=""> <a 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