Seán Canney (Galway East, Independent) | Oireachtas source

With regard to transfers into and from the dormant accounts fund in 2018, the most recent information available to me from the NTMA covers the period to the end of October, at which point €66.98 million had been transferred into the fund from dormant accounts within relevant financial institutions.  A total of €17.65 million had been reclaimed from the fund. Therefore, the net value of transfers into the fund for 2018 to the end of October was €49.33 million. 

With regard to expenditure on measures approved in dormant accounts fund action plans, as the Deputy is aware, measures approved in action plans subsequently require voted Government expenditure to be made available. For 2018 the total voted expenditure dedicated to dormant accounts measures across relevant Departments was €30.19 million.  

Within my Department, the total voted allocation for dormant accounts measures in 2018 is €10.08 million. Expenditure of €4.1 million has been incurred to date. Further expenditure will be incurred before the end of the year.

Based on commitments made in dormant accounts action plans, the total liability under the fund stands at €82.37 million. This compares to a balance of €320.20 million in the fund at the end of October. The reserve fund stands at €87.60 million, while the amount of uncommitted funds stands at €150.23 million.

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