Anglo-Irish Bank Annual Report Post author By Philip Lane Post date February 20, 2009 The annual report of Anglo Irish Bank has just been published and you can download it here. Categories In Banking Crisis 3 Comments on Anglo-Irish Bank Annual Report ← Bacon, Bad Banks and Risk Insurance → Reinhart and Rogoff, and Ireland 3 replies on “Anglo-Irish Bank Annual Report” 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. The debate on Anglo and related issues between Ulick McEvaddy and Joe Higgins on Pat Kenny that accompanies RTE’s coverage of the Anglo report is worth listening to. http://www.rte.ie/news/2009/0220/banks.html And the PWC report can be found here http://www.finance.gov.ie/documents/publications/other/2009/Anglopwc.pdf Comments are closed.