SpooOOOooky European bank capital relief

That’s because it’s ghostly and hard to spot. (And it is All Hallows’ Eve.)

First it was the buried announcement that Irish banks with government share ownership are about to get Spanish-style flexibility on deferred tax assets… (though not nearly as far as the Spanish proposal for tax-credit conversion) H/T Lorcan

Next it was Bank of Ireland’s stock rising by more than 4 per cent in Dublin late on Thursday.