Michael Noonan (Limerick City, Fine Gael)
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According to my note it includes several projects some of which are condition-linked to the bank recapitalisation programme. I will see if I can get a figure for how far over the staff it would be.

I have another note here. EU Regulation No. 26/2012 established technical and business requirements for credit transfers and direct debits in euro and entered into force on the day following its publication in the Official Journal of the European Union on 30 March 2012. The regulation specifies an update on 1 February 2014 for the migration of all credit transfers and direct debit payment to SEPA credit transfer, SCT, and SEPA direct debit, SDD, data formats. However, as part of the approval by the European Commission in July 2010 of the restructuring plan for the Bank of Ireland a commitment was made that the State would migrate credit transfers and direct debit payments of Departments to SEPA standards by 31 March 2013.

SEPA stands for the single euro payments area standards. The commitment was conditional on banks and software vendors being in a position to provide the necessary solutions in time. Neither the banks nor the software providers were in a position to fully meet the accelerated SEPA deadline. However, we will endeavour that Departments will migrate to SEPA standards as soon as their suppliers can facilitate it. In any event, it will be in advance of the required date of 1 February 2014. Therefore, it does not relate to staffing costs, I am informed, but to the advertising and communications costs to ensure that people are aware of their responsibilities to move across to single euro payments area standards for payments.