Oireachtas Joint and Select Committees
Wednesday, 27 November 2013
Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance
Finance (No. 2) Bill 2013: Committee Stage (Resumed)
11:50 am
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
The Minister has said before that this measure is about how tax credits will be assessed, in terms of capital ratios, the potential recapitalisation of the banks, if it ever arises, and how Europe will define what instruments will fall within core tier one capital. Is this based on letting them carry the losses forward? Otherwise, it will be a drag on the banks in terms of stress testing and so on. It is a drag on the banks we have created as a result of the NAMA Bill, because other financial institutions do not have this drag on them. Is that the prime motivator of this section? If it is, I would like to come back in on this again.
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