Michael McGrath is the one raising this because he is a new TD, and all the FF others are pretty tarnished by their complicity in creating this situation in the first place.
I had not realised that PTSB had the highest standard variable rate in the euorzone. That is interesting.
The question is - at what rate do think private, non-government owned banks would lend to PTSB SVR holders - particularly those in negative equity?
I had not realised that PTSB had the highest standard variable rate in the euorzone. That is interesting.
Brendan
But most(?) of PTSB's funding comes from the ECB at 1%. The highest PTSB is paying for short notice accounts is 3% on amounts in excess of €10,000. It is paying 4.47% for money fixed for 2 years and 2 months, but that is a tiny proportion of its overall funding. I don't know the blended cost of funding, but I would guess it's less than 2%.
. What needs to happen is a harmonisation of rates across state owned institutions. .
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