3 thoughts on “Anglo-Irish Bank Annual Report”

  1. Please take note of the “Yen financing” note on page 159. Cost of switching from GBP basis to JPY basis cost them gbp156mio when they finally unwound it in January. Working off the 29% fall in GBP/JPY over the Sept-Jan period, this means a likely 500mio nominal. This is the sort of strategy used by a highly risk taking investment bank or hedge fun, not a commercial bank. Insane.

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