Oireachtas Joint and Select Committees

Wednesday, 12 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: Permanent TSB

2:15 pm

Mr. Jeremy Masding:

Yes. Perhaps I might give the Deputy the full, transparent details and I will then have answered his question. We started with a figure of €855 million gross and have a contingent, convertible vehicle on our balance sheet worth €400 million, which takes us down to €455 million, of which circa80% has been covered. Directionally, therefore, we expect the net shortfall to be between €100 million and €150 million, depending on the final negotiations with the European Central Bank.