Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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Question 72: To ask the Minister for Finance in view of previous responses by him that it was not possible to identify the bondholders of Irish banks because of the selling on of bonds to secondary markets if he will identify and provide details of the original buyers of those bonds. [16969/11]

Michael Noonan (Limerick City, Fine Gael)
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As I informed the Deputy previously, as bonds are usually issued in bearer form the purchasers of the bonds are unknown to the issuing bank. When a bank issues a bond, whether by private placement or public issue, it would be usual practice for a securities depository company, such as Clearstream and Euroclear, to purchase the bond on behalf of their customers and the banks would not necessarily know the actual owner of the bond.

Securities depository companies such as Clearstream and Euroclear usually manage, safekeep and administer the securities that it holds on behalf of the purchasers of the bonds and the identity of the purchasers of the bonds is not disclosed in the public domain or to the issuer.