No clarity on tracker mortgage sale

There is still no clarity on whether the ECB will be able to buy tracker mortgages from Irish banks following its latest monthly meeting.

The most important issue of the asset-backed security purchasing programme remains unanswered, said Frankfurt-based economist with ING Bank, Carsten Brzeski.

“The controversy about the riskier asset-backed security tranches has apparently not been solved yet,” said Mr Brzeski. “Remember that several eurozone governments, particularly France and Germany, had already given the ECB the cold shoulder, refusing to guarantee mezzanine tranches.