Mortgage arrears threat to Irish banks

Ireland's banks could need more capital next year to cope with loan losses if mortgage arrears continue to accumulate at the current pace and house prices keep falling, writes Jon Ihle.

26th May, 2012

Ireland's banks could need more capital next year to cope with loan losses if mortgage arrears continue to accumulate at the current pace and house prices keep falling.

Last week, Central Bank figures for the first quarter of 2012 confirmed that more than 10 per cent of residential mortgages - or nearly 78,000 households -were more than 90 days behind on payments.

The new figures marked a 12 per cent quarterly increase from December 2011, when arrears stood at...

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