SNB rejects Irish debt as collateral

shamrocks

The Swiss National Bank (SNB) will no longer accept Irish government debt, and that of several of the country's major lenders, in its repo operations.

The latest modifications to the central bank's collateral list show that since 21 December last year Irish government bonds, along with the debt of the country's big three lenders – Bank of Ireland, Anglo Irish and AIB Mortgage Bank (a wing of Allied Irish Bank) – was no longer eligible. All of the three are now majority owned by the state. The

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