Oireachtas Joint and Select Committees
Thursday, 7 July 2016
Select Committee on Finance, Public Expenditure and Reform, and Taoiseach
Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage
11:00 am
Eoghan Murphy (Dublin Bay South, Fine Gael)
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It would be treated as a loan to the fund to be repaid to us with interest within two years. The interest would depend on market rates at the time. We would recoup the money that way. The expenditure benchmark is calculated over a ten-year period, which runs from five years previous to the current year to four years after the end of the current year. The loan would be repaid with interest within two years and, as such, would not figure in the expenditure benchmark rule or impact on the deficit.