Results 13,181-13,200 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Government Bond Issues (21 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 55 and 57 together. The Central Bank has indicated that the portfolio of Government bonds now held by the Bank following the liquidation of IBRC will be sold as soon as possible, provided conditions of financial stability permit. The Bank has, however, undertaken that a minimum amount of bonds will be sold in accordance with the following schedule: to end...

Written Answers — Department of Finance: Government Bond Issues (21 Nov 2013)

Michael Noonan: Deputies will recall that the IBRC Promissory Notes were replaced with a portfolio of Irish Government bonds which consists of three tranches of €2 billion each maturing after 25, 28 and 30 years, three tranches of €3 billion each maturing after 32, 34 and 36 years and two tranches of €5 billion each maturing after 38 and 40 years. Under the original Promissory Note...

Written Answers — Department of Finance: EU-IMF Programme of Support Issues (21 Nov 2013)

Michael Noonan: The Governing Council of the ECB made a decision to establish Outright Monetary Transaction (OMT) on 2 August 2012, and issued a press statement on 6 September 2012 which outlined its technical features. According to this the purpose of OMT is: “Safeguarding an appropriate monetary policy transmission and the singleness of the monetary policy”. It is therefore, aimed at...

Written Answers — Department of Finance: Credit Institutions Resolution Fund (21 Nov 2013)

Michael Noonan: The Government put €250 million into the Credit Institutions Resolution Fund which was set up under the Central Bank and Credit Institutions (Resolution) Act 2011. The Act provides that payments may be made from the Fund for the resolution of financial instability in, or an imminent serious threat to the financial stability of, an authorised credit institution. Under Section 12(2) of...

Written Answers — Department of Finance: Deposit Guarantee Scheme (21 Nov 2013)

Michael Noonan: The Deposit Guarantee Scheme - DGS - was set up by the Government and is administered by the Central Bank of Ireland. The DGS guarantees eligible deposits up to €100,000 per person in any bank, building society or credit union. Total deposits held in credit unions amount to €11.6 billion as reported by credit unions as at 30 September 2013. The Central Bank advises that it is...

Written Answers — Department of Finance: Deposit Guarantee Scheme (21 Nov 2013)

Michael Noonan: The Central Bank of Ireland is responsible for the operation of the Deposit Protection (Guarantee) Scheme (DGS), which covers licensed credit institutions operating in the State. Each credit institution covered by the DGS is required to maintain a balance in the Deposit Protection Account (DPA) equivalent to 0.2% of their total deposits in order to fund the DGS. I am advised by the Central...

Supplementary Estimates 2013: Motion (26 Nov 2013)

Michael Noonan: I move:That leave be given by the Dáil to introduce the following Supplementary Estimates for the service of the year ending on the 31st day of December, 2013:–Vote 18 — Shared Services (Supplementary Estimate). Vote 31 — Transport, Tourism and Sport (Supplementary Estimate). Vote 35 — Army Pensions (Supplementary Estimate).

Supplementary Estimates 2013: Referral to Select Committee (26 Nov 2013)

Michael Noonan: I move:That, subject to leave being given to introduce the following Supplementary Estimates for the service of the year ending on 31st December, 2013, the Supplementary Estimates be referred to the following Select Committees or sub-Committees, as appropriate, pursuant to Standing Orders 82A(3)(c) and (6)(a) and 159(3), and paragraph (8) of the Orders of Reference of Select Committees, which...

Written Answers — Department of Finance: EU-IMF Programme of Support (26 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 147 and 171 together. As the Deputy will be aware, the Taoiseach mentioned in this House that he had held discussions with Chancellor Merkel. Germany is keen to help and specifically to find ways to reinforce Ireland’s economic recovery by improving funding mechanisms for the real economy, including access to finance for Irish SMEs. The German...

Written Answers — Department of Finance: Property Taxation Collection (26 Nov 2013)

Michael Noonan: I am advised by Revenue that Section 128 of the Finance Local Property Tax (LPT) Act 2012 (as amended) provides that outstanding LPT Returns and liabilities will be taken into account for tax clearance purposes. I am also advised by Revenue that if a person is the owner of a relevant residential property on the ‘liability date’, which is 1 May for 2013, then he/she is liable to...

Written Answers — Department of Finance: Departmental Banking (26 Nov 2013)

Michael Noonan: In response to the Deputy’s question neither my Department or bodies under the aegis of my Department provide services to the public.

Written Answers — Department of Finance: IBRC Mortgage Loan Book (26 Nov 2013)

Michael Noonan: I have been advised by the Special Liquidators that all Borrowers can re-finance their borrowings with other lending institutions however there will be no write down of the debt outstanding. The Special Liquidators have corresponded with all IBRC borrowers providing them with an opportunity to make written representations on the method of disposal of their loans and the criteria for...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (26 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 151, 153, 154 and 168 together. I am advised that the contractual terms and conditions of customer mortgages and other borrowings of IBRC will not change as a result of the appointment of the Special Liquidators or the ultimate sale of the obligations to a third party. The Special Liquidators have confirmed that all Borrowers are permitted to buy-out their...

Written Answers — Department of Finance: Tax Collection (26 Nov 2013)

Michael Noonan: I am advised by Revenue that the execution of warrants by Sheriffs in respect of tax debts is specifically provided for in Section 962 of the Taxes Consolidation Act, 1997, as amended. I am further advised that Sheriffs are Officers of the Court, holding office under Section 12 of the Court Officers Act, 1945. Their debt collection activities, including seizure procedures, are generally...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (26 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 155 and 167 together. I have been informed that the Special Liquidators have corresponded with all IBRC borrowers providing them with an opportunity to make written representations on the method of disposal of their loans and the criteria for determining who may bid for loan assets. Consideration was given to Borrower representations and the Special...

Written Answers — Department of Finance: IBRC Loans (26 Nov 2013)

Michael Noonan: The Special Liquidators are obliged to ensure that the valuation of all IBRC assets is completed by 30 November 2013 and that the sale of all IBRC assets is agreed or completed by no later than 31 December 2013 or as soon as practicable thereafter. The valuation of IBRC assets will not be published as it is commercially sensitive financial information which could potentially have a...

Written Answers — Department of Finance: Property Taxation Administration (26 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 157, 161, 182 and 200 together. In accordance with the Finance (Local Property Tax) Act 2012 (as amended), liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date, which was 1 May 2013 for 2013 and for subsequent years, 1 November in the preceding year. The matter of the 1 November liability date...

Written Answers — Department of Finance: Credit Unions Restructuring (26 Nov 2013)

Michael Noonan: The financial incentives agreement - FIA - between the Central Bank and permanent tsb dated 10 November 2013, contains a provision for the Credit Institutions Resolution Fund to cover up to €4.25 million in restructuring and integration costs incurred by PTSB as part of the transaction. Under the FIA restructuring costs cover all vouched costs, including VAT, reasonably and...

Written Answers — Department of Finance: Budget Measures (26 Nov 2013)

Michael Noonan: To begin, I would again stress that, given the current fiscal position of the State, there is no real scope for a large-scale revenue stimulus on the scale proposed by the Deputy. When assessing the potential impact on the economy of such a measure, my Department must weigh the short-term benefits on economic output against the impact on the public finances. In this regard research produced...

Written Answers — Department of Finance: Property Taxation Administration (26 Nov 2013)

Michael Noonan: I am informed by Revenue that the LPT Return for 2013 was not submitted to Revenue by the person in question. The person did however pay €112 (Band 2 Valuation), which was the estimated amount that issued to her, through a Payment Service Provider on 26 March 2013. Because the person did not file the statutory LPT Return for 2013 her record was incomplete on the Property Register and...