2010.11.1009:34:00UTC+00Ireland Debt Margin Requirements up That Drive up Irish/german Bond Yield Spreads

News:

• The margin requirements for Irish debt was raised on Wednesday, and the cbank has pledged to scrutinize further the bank's residential mortgage books.
• The new requirements drove up the yield spread between 10-year Irish government bonds and the equivalent German bunds by 10 bps on Wednesday to a record high of 592 bps.
• The Irsih fin min confirmed that he is determined and confident that Ireland will manage to repay all its debts.

Quotes:

• "Despite recent trends in arrears and reschedulings, there is as yet no hard indication that the stress levels would be exceeded," Central Bank Governor Patrick Honohan said in a speech at a financial summit in Dublin.