Devil in the detail in debt write downs
Recent headlines on home loan write downs risks creating false expectations among other borrowers, writes Karl Deeter.
The banks are starting to write down debt. Should we be surprised? Recent news of large write downs on home loans by AIB has left out some of the necessary detail to add context to the story. The lender has equally shied away from confirmation of what happened, making it all a bit opaque.
Why would a bank choose to offer a capital reduction by writing off part of a mortgage? An alternative is to...
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