Joe Costello (Dublin Central, Labour)
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Question 109: To ask the Minister for Finance the status of the financial institutions which have been bailed out by the State and which are substantially or entirely owned by the State; the number of employees involved; the way the conditions of employment, pay and redundancy are determined; and if he will make a statement on the matter. [19795/11]

Michael Noonan (Limerick City, Fine Gael)
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The financial institutions to which the Deputy refers are independent economic entities with various levels of state ownership. Employees of the institutions are not public servants for the purposes of the Financial Emergency Measures in the Public Interest Act 2009. As I said in my reply to question 19918/11, I will ask the institutions to write to the Deputy to provide the information on the numbers employed in each over the past five years. Conditions of employment, pay and redundancy are a matter for the normal human resources and industrial relations policies of the various institutions but are subject to certain restrictions and approvals either by me as Minister for Finance or by the NTMA/NPRFC as shareholders.

As the Deputy will be aware, regarding the general issue of bank remuneration, I have asked the NTMA to request a review of remuneration policies and practices by each of the covered institutions. In that regard, the institutions have been asked to consider measures that could be taken to realign staff expectations with regard to remuneration and benefits in the current economic environment and financial circumstances of the banks. The review exercise is ongoing and the NTMA expects to receive the requested information shortly from all the institutions in order to allow a comprehensive evaluation to take place.