Results 10,821-10,840 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — State Banking Sector: State Banking Sector (22 Sep 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 117 and 118 together. On the 22nd July 2009 Anglo Irish Bank Corporation Limited launched a €3.2 billion "any and all" fixed price cash tender offer for five Tier 1 securities, one Upper Tier 2 security and one lower Tier 2 security. The purchase price paid for the Tier 1 securities was 27% of nominal value, for the Upper Tier 2 security was 37% of nominal...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (22 Sep 2009)

Brian Lenihan Jnr: I assume that the Deputy's question refers to the regulatory capital ratios for the covered institutions. As the Deputy will be aware, the total capital ratios and core tier one ratios for the covered institutions are set out in the NAMA Supplementary Documentation provided to the House last week. The following table sets out the latest published total capital ratio and tier one ratio for...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (22 Sep 2009)

Brian Lenihan Jnr: I am assuming that the Deputy is referring to the total loans and advances to customers and customer's accounts in each of the institutions. As set out in the NAMA Supplementary Documentation provided to the House last week, the net loan to deposit ratios for each of the credit institutions are as follows: Institution Net loan to deposit ratio Date AIB 156% 30 June 2009 Bank of Ireland...

Written Answers — Financial Services Regulation: Financial Services Regulation (22 Sep 2009)

Brian Lenihan Jnr: The Government has agreed a range of reforms of the regulatory structures for financial regulation. A new single fully integrated regulatory institution, the Central Bank of Ireland, will be established, replacing the current two pillar structure under the existing Central Bank and Financial Services Authority of Ireland. The new structure will be responsible for both the supervision of...

Written Answers — Financial Services Regulation: Financial Services Regulation (22 Sep 2009)

Brian Lenihan Jnr: As part of the reform of the financial regulatory system, a new Director of Financial Supervision will have responsibility for the supervision of regulated institutions. The recruitment process for this position is now at an advanced stage and it is expected that an appointment will be made in the coming weeks.

Written Answers — State Banking Sector: State Banking Sector (22 Sep 2009)

Brian Lenihan Jnr: As the Deputy will be aware several regulatory bodies are carrying out investigations of behaviour at Anglo Irish Bank including in particular, the Office of the Director of Corporate Enforcement, the Garda Fraud Office and the Financial Regulator. The various regulatory bodies will make their reports in due course. I am of course anxious that the investigations are completed as swiftly as...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (22 Sep 2009)

Brian Lenihan Jnr: Eligible bank assets identified for transfer to NAMA will be valued in accordance with the valuation methodology set out in Part 5 of the NAMA Bill 2009 as initiated and contained in draft regulations which were published with the NAMA supplementary documentation on 16 September.

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (22 Sep 2009)

Brian Lenihan Jnr: The methodology for calculating the charge, which is paid on a quarterly basis is:

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (22 Sep 2009)

Brian Lenihan Jnr: The Deputy will be aware that it is the Government's intention to put a State guarantee in place for the future issuance of debt securities with a maximum maturity of up to five years. Access to longer-term funding in line with the mainstream approach in the EU is expected to contribute significantly to supporting the funding needs of the banks and to securing their continued stability. The...

Written Answers — National Asset Management Agency: National Asset Management Agency (22 Sep 2009)

Brian Lenihan Jnr: The NAMA supplementary documentation pack circulated to the Oireachtas on 16 September contains information on the potential NAMA portfolio including a breakdown of the assets expected to transfer by institution, by sector and by location. These projections are based on provisional information collated by the interim NAMA. NAMA will take a bottom up approach to the valuation of assets....

Written Answers — State Banking Sector: State Banking Sector (22 Sep 2009)

Brian Lenihan Jnr: As the Deputy is aware, I have received advice on the banking crisis from the Attorney General's Office, the Central Bank, the Financial Regulator and the NTMA. The private consultancy firm which provided legal, regulatory or financial advice to me on the banking crisis since August 2008 is set out below. Arthur Cox solicitors have been engaged by my Department since September 2008 to...

Written Answers — Pension Provisions: Pension Provisions (22 Sep 2009)

Brian Lenihan Jnr: The latest estimate for the gross accrued liability for public service occupational pensions is €108 billion as of December 2008. This estimate is set out in the recent annual report of the Comptroller and Auditor General. This accrued liability figure is a single monetary amount representing the present value of all expected future superannuation payments to current staff and their...

Written Answers — Commission on Taxation: Commission on Taxation (22 Sep 2009)

Brian Lenihan Jnr: In recognition of the commitment involved in the participation of members on the Commission on Taxation the following fee structure was put in place by my Department when the Commission was established: A fee of €700 per day where a commitment of a half day or more was required; A fee of €350 per day where a commitment of less than half a day was required. In respect of the Chairman the...

Written Answers — EU Funding: EU Funding (22 Sep 2009)

Brian Lenihan Jnr: For the purposes of EU Structural and Cohesion Funds, Ireland is designated into two NUTS (Nomenclature of Territorial Units for Statistics) II regions, namely the Border, Midland and Western (BMW) Region and the Southern and Eastern (S&E) Region. Under the Regional Competitiveness and Employment Objective, Ireland has been allocated €750 million of EU Structural Funds for the period...

Written Answers — EU Funding: EU Funding (22 Sep 2009)

Brian Lenihan Jnr: The European Investment Bank announced on 3 October 2008 that it was increasing lending for European small and medium enterprises (SMEs) to help mitigate the effects of the current credit crisis. This support is in the form of a €30 billion facility to provide loans to commercial banks for onlending to SMEs to fund medium to long-term investment projects. Four banks operating in Ireland...

Written Answers — Small and Medium Enterprises: Small and Medium Enterprises (22 Sep 2009)

Brian Lenihan Jnr: Access to finance for small and medium enterprises (SMEs) is of major concern to the Government. Making additional funds available for SME lending was a condition of the recapitalisation agreements with AIB and Bank of Ireland. The banks report quarterly on their commitments under recapitalisation and the Supplementary Documentation (Green Book) issued by the Department of Finance last week...

Written Answers — Departmental Expenditure: Departmental Expenditure (22 Sep 2009)

Brian Lenihan Jnr: Since 19 May 2009 my Department has paid suppliers and contractors as follows: 90.3% within 15 days, 7.8% between 15 and 30 days and 1.9% after 30 days.

Written Answers — National Lottery Funding: National Lottery Funding (22 Sep 2009)

Brian Lenihan Jnr: The amounts paid to applicants for assistance under the Charitable Lotteries Scheme which is funded from the surplus generated by the National Lottery in each of the years 2005, 2006, 2007 and 2008 are shown in the following tables: Organisation 2005 Payment REHAB Lotteries 5,314,135.75 Gael Linn 407,161.87 Irish Cancer Society 358,683.57 Polio Fellowship 358,683.57 Irish Society for...

Written Answers — Tax Code: Tax Code (22 Sep 2009)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that while the issuing of P45s is a matter for the employer, they will contact the taxpayer directly in relation to his request.

Public Appointments Transparency Bill 2009: Second Stage (Resumed) (23 Sep 2009)

Brian Lenihan Jnr: The Bill with which we are dealing here this evening raises important issues of public interest and I thank Deputy Varadkar for allowing the House the opportunity to discuss them. While the Government is opposing the Bill on a number of grounds, we acknowledge the concerns that have been voiced by many Deputies. We agree that the aim to achieve best practice in the corporate governance of...