Michael McGrath (Cork South Central, Fianna Fail)
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174. To ask the Minister for Finance the amount of contingent convertible capital notes and preference shares the State holds in the covered banks; the dates on which these were acquired; the interest payable on each security; their maturity dates; his plans for these investments; and if he will make a statement on the matter. [32682/14]

Michael Noonan (Limerick City, Fine Gael)
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I can confirm for the Deputy the following in relation to the current holdings by the State of contingent capital notes and preference shares.

In relation to our cocos and preference shares in AIB, the bank has confirmed that discussions are taking place with the State about these investments with a view to ensuring that AIB's capital structure is fit for purpose and the State's interests are best protected in light of our desire to see a return on our overall investment in the bank. In relation to our coco investment in Permanent TSB, no decisions have been made with regard to this investment.

Officials in my Department closely monitor the performance of all our banking investments to ensure that the taxpayers' interest are protected and that a path can be found to reduce and eventually eliminate the State's exposure over time.