Results 14,681-14,700 of 16,537 for speaker:Brian Lenihan Jnr
- National Pensions Reserve Fund (30 Sep 2010)
Brian Lenihan Jnr: The Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009 made the necessary legislative changes to the National Pensions Reserve Fund Act 2000 to enable the fund to be used for the purposes of bank recapitalisation. It empowered the Minister for Finance to direct the National Pensions Reserve Fund Commission to invest in listed credit institutions or to...
- National Pensions Reserve Fund (30 Sep 2010)
Brian Lenihan Jnr: I was pleased that Professor Fitzgerald agreed to serve as a member of the new Central Bank Commission but he did not express his opinion on the liquidation of the pension fund to me.
- National Pensions Reserve Fund (30 Sep 2010)
Brian Lenihan Jnr: He did not express his opinion to me and I had not read the article to which Deputy Burton drew my attention. My officials did not draw his opinion to my attention either and the Central Bank Commission has no function in the operation of the NTMA. It is important that those we appoint to bodies have opinions of their own and it does not lessen in any way the respect I have for Professor...
- National Pensions Reserve Fund (30 Sep 2010)
Brian Lenihan Jnr: As has been pointed out, the investment by the pension fund in the banks is restricted to banks listed on the stock exchange.
- National Pensions Reserve Fund (30 Sep 2010)
Brian Lenihan Jnr: The sums I envisaged being invested are those invested to date, subject to the case that in AIB there is an issue about the disposal of M&T.
- National Pensions Reserve Fund (30 Sep 2010)
Brian Lenihan Jnr: Yes, but the contingency is fully within the existing cash capacity of the pension fund.
- National Pensions Reserve Fund (30 Sep 2010)
Brian Lenihan Jnr: I will be guided by the advice of the NTMA in the matter.
- National Pensions Reserve Fund (30 Sep 2010)
Brian Lenihan Jnr: It is unlikely because we are funded until the middle of next year and it is important that we demonstrate not just the credibility of the banking policy, but the credibility of budgetary policy as well.
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)
Brian Lenihan Jnr: In any bank.
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)
Brian Lenihan Jnr: I do not go into it when it is not of benefit.
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)
Brian Lenihan Jnr: We all have a lot.
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)
Brian Lenihan Jnr: Why do we need to go?
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)
Brian Lenihan Jnr: That is not the minimum. It is a central case scenario.
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)
Brian Lenihan Jnr: That is why we have a problem.
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)
Brian Lenihan Jnr: He is also on record as saying he did not believe he should communicate this to anyone.
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)
Brian Lenihan Jnr: That is coming out of the pension fund.
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)
Brian Lenihan Jnr: If you take 5%, that is correct.
- Written Answers — Consultancy Contracts: Consultancy Contracts (30 Sep 2010)
Brian Lenihan Jnr: The C&AG report states that the cumulative expenditure on consulting services for banking stabilisation services provided to the NTMA, Financial Regulator, Central Bank, the NPRFC and my Department was â¬33.76m. Of this, my Department has spent a total of â¬9.78m in the period to end July 2010, â¬9.66m to Arthur Cox in respect of legal advice and â¬0.12m to PWC in respect of accounting...
- Written Answers — Financial Institutions Recapitalisation: Financial Institutions Recapitalisation (30 Sep 2010)
Brian Lenihan Jnr: The Financial Regulator on 30 March 2010 determined that EBS must raise additional equity capital of at least â¬875 million by the end of 2010 in order to meet the new base case capital standards. The State provided EBS in May 2010 with â¬100 million of capital through the issuance of Special Investment Shares to secure EBS's immediate capital position. These Special Investment Shares...
- Written Answers — Financial Institutions Recapitalisation: Financial Institutions Recapitalisation (30 Sep 2010)
Brian Lenihan Jnr: I addressed the position regarding the estimated level of capital support required by Irish Nationwide Building Society in my Statement on Banking earlier today. To date, I have provided â¬2.7bn capital to INBS to cover the losses on lending by the Society. Following a recommendation from the NTMA, I am providing, subject to European Commission approval, an additional â¬2.7bn, as a...