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The State's Irish Strategic Investment Fund was a co-investor in these firms (e.g. BlueBay Capital, Cardinal Capital). [ 103 ] [ 104 ] [ 85 ] It emerged that the regulator of Section 110 SPVs, the Central Bank of Ireland , was paying rent to a US vulture fund landlord, that had structured their investment to avoid all Irish taxes, and stamp ...
The first bonds of the European Financial Stability Facility were issued on 25 January 2011. The EFSF placed its inaugural five-year bonds for an amount of €5 billion as part of the EU/IMF financial support package agreed for Ireland. [23] The issuance spread was fixed at mid-swap plus 6 basis points. This implies borrowing costs for EFSF of ...
A Principal protected note (PPN) is an investment contract with a guaranteed rate of return of at least the amount invested, and a possible gain.. Although traditional fixed income investments such as guaranteed investment certificates (GICs) and bonds provide investment security with little or no risk of capital loss, they provide modest returns.
National Deposit Insurance Fund (NDIF) Ireland: EUR 100,000: 100%: The Deposit Guarantee Scheme (DGS) The Deposit Guarantee Scheme (DGS) protects depositors in the event of a bank, building society or credit union authorised by the Central Bank of Ireland being unable to repay deposits. Deposits up to EUR 100,000 per person per institution are ...
This division of the Bank authorised and regulated all financial institutions (including insurance undertakings, collective investment funds and credit unions) in Ireland. [26] [27] The "Central Bank of Ireland" was formally renamed Central Bank and Financial Services Authority of Ireland (CBFSAI). (There was no entity named "Financial Services ...
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Typically this would apply where, for example, a zero coupon bond has been bought and sold at a profit, or where a bond fund, or a money-market fund, does not pay out its interest and the fund is subsequently sold at a profit. The rules define how much of the fund's assets must be in bonds for it to be classified as "interest earning".
Then, in March 2012, the Greek government did finally default on parts of its debt - as there was a new law passed by the government so that private holders of Greek government bonds (banks, insurers and investment funds) would "voluntarily" accept a bond swap with a 53.5% nominal write-off, partly in short-term EFSF notes, partly in new Greek ...