Results 14,441-14,460 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — State Banking Sector: State Banking Sector (8 Jul 2010)

Brian Lenihan Jnr: I am informed by the Central Bank that the value of gold and gold receivables held by the Bank as of 28 May 2010, the most recent date for which figures have been published, was some €159 million.

Written Answers — Tax Code: Tax Code (8 Jul 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the relevant health-related tax reliefs for which costs to the Exchequer can be provided are set out as follows alongside the associated figures of cost. Estimated cost to the Exchequer €m Tax Relief 2005 2006 2007 2008 2009 Health Expenses 134.0 167.2 Not Available Not Available Not Available Medical Insurance Premia 229.6 260.5 300.3...

Written Answers — Tax Yield: Tax Yield (8 Jul 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 106 and 107 together. I am informed by the Revenue Commissioners that the relevant information available on the amount of income earned by general medical practitioners and dental practitioners in the State is based on personal income tax returns filed by non-PAYE taxpayers for the years 2005 to 2007, the latest year for which this information is available....

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: I move: That Dáil Éireann approves the terms of the draft scheme entitled Credit Institutions (Eligible Liabilities Guarantee) (Amendment) Scheme 2010 a copy of which draft scheme was laid before Dáil Éireann on 23rd September, 2010. I move the motion to approve the draft statutory instrument entitled the Credit Institutions (Eligible Liabilities Guarantee) (Amendment) Scheme 2010. This...

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: The relevant State authorities will continue to monitor the funding situation of Irish banks and the requirement for the guarantee in the future. Markets are currently dislocated. The EU state aid rules provide that the guarantee can be extended for a maximum of six months on each occasion. We will revisit the requirement for an ELG scheme in consultation with the European Commission and...

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: Yes, we will do our best to help the Deputy.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: I am sorry to interrupt but, I did not say that.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: I did not say it was the cheapest rescue.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: If a person in the bank said that he-she would be open to criminal prosecution.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: The party in Bank of Ireland who is alleged to have said has never come forward. He is unindented and unknown. That is the basis of the Deputy's allegation in the House.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: They received no directive from me.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: Can I deal briefly with what Deputy Rabbitte just said? The guarantee of dated subordinated debt——

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: I am sorry, Deputy, can I speak?

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: I would like to conclude the debate if I could and be of assistance to the House. First, on Deputy Rabbitte's point in regard to the scope of the guarantee, and Professor Whelan's extrapolations or inferences from it——

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: ——let me be clear about one matter. Dated subordinated debt was guaranteed in relation to the two institutions that are most distressed — Irish Nationwide Building Society and Anglo Irish Bank. No dated principal sum on foot of dated subordinated debt was paid during the guarantee period, and indeed none falls due for a number of years. Hence, there is no loss to the taxpayer in...

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: Second, in relation to the unguaranteed debt which was already invested in Anglo Irish Bank at the time of the guarantee, the precise legal point is that that debt was never guaranteed. The principal of that debt did not fall due for payment during the guarantee period. Again, there was no loss to the institutions in respect of that particular guarantee because no money or principal sum was...

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: No, Deputy please. We are talking about a figure of €4 billion of debt——

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: ——which arose——

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: Really Deputy, I am trying to address the issue raised by Deputy Rabbitte and I am making the point that the Governor is very clear in his advice that those obligations should be met by those banks in due course, first because senior bond holders as a matter of law in Ireland rank equally with depositors and therefore under the relevant EU legislation and under our domestic constitutional...

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Brian Lenihan Jnr: I will further deal with this matter in the announcement I propose to make tomorrow on the banking system. The second matter raised by Deputy Noonan was the position of holders of subordinated debt in Anglo Irish Bank. I touched on this issue in my reply to Deputy Rabbitte and again I will deal with it in the statement to be made tomorrow on the banking system. The third matter was the...