Results 14,701-14,720 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Banking Sector Regulation: Banking Sector Regulation (30 Sep 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 12 and 141 together. I have indicated previously that I am examining options for the introduction of a legislative regime to deal in a systematic way with distressed financial institutions, to ensure the State has in place a range of tools to address problem institutions effectively in the interests of maintaining financial stability, minimising reliance on...

Written Answers — Public Sector Staff: Public Sector Staff (30 Sep 2010)

Brian Lenihan Jnr: The Public Service Agreement 2010-14 (the "Croke Park" Agreement) provides for agreed redeployment arrangements to apply in the Civil Service and in the Health, Education, Non-Commercial State Sponsored Body (NCSSB), and Local Authority sectors. In the context of the current constraints on the public finances and the need to maximise the use of resources, the public service needs the...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (30 Sep 2010)

Brian Lenihan Jnr: To qualify as an eligible liability under the ELG Scheme, a bond must be issued between the date the participating institution joined the scheme and midnight on 31 December 2010. Unsecured senior bonds issued by Anglo Irish Bank before September 2008 do not therefore qualify as eligible liabilities, and they will no longer benefit from a guarantee after the expiry of the CIFS Scheme on 29...

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: I assume that the measure to which the Deputy refers is the Domicile Levy which I announced in Budget 2010 and introduced in Finance Act 2010. The Deputy will be aware that the Domicile Levy of €200,000 is charged on an individual who is Irish-domiciled and an Irish citizen whose world-wide income exceeds €1m, whose Irish-located property is greater than €5m, and whose liability to...

Written Answers — Fiscal Policy: Fiscal Policy (30 Sep 2010)

Brian Lenihan Jnr: National accounts data published last week by the Central Statistics Office show that GDP declined by 1.2 per cent between the first and second quarters of this year. I would point out that this follows an increase of 2.2 per cent in the first quarter - in other words, taken together the data for the first two quarters suggest that the level of GDP has stabilised. The quarterly figure for...

Written Answers — National Pensions Reserve Fund: National Pensions Reserve Fund (30 Sep 2010)

Brian Lenihan Jnr: On 30 March 2009, I directed the National Pensions Reserve Fund Commission to invest €3.5 billion in preference shares issued by Bank of Ireland and on 12 May 2009 I directed the Commission to invest €3.5 billion in preference shares issued by Allied Irish Banks plc (AIB). I gave these directions having consulted the Governor of the Central Bank and the Regulatory Authority and having...

Written Answers — Mortgage Arrears: Mortgage Arrears (30 Sep 2010)

Brian Lenihan Jnr: There are no statistics available for mortgage accounts in arrears for one month. The latest mortgage arrears data from the Central Bank and Financial Regulator for period end June 2010 published on 1 September 2010 provide the following statistics for mortgage accounts in arrears more than 90 days and 180 days: 36, 438 mortgage accounts in arrears for more than 90 days of which 24,797 are...

Written Answers — Exchequer Savings: Exchequer Savings (30 Sep 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 19 and 71 together. The Report of the Special Group on Public Service Numbers and Expenditure Programmes was published in July 2009 and outlined 271 options with potential savings of up to €5.3 billion in a full year along with associated staffing reductions of over 17,300 in public service numbers. Following the publication of the Special Group's Report,...

Written Answers — Freedom of Information: Freedom of Information (30 Sep 2010)

Brian Lenihan Jnr: When an FOI request is received in the Department it is initially examined by the Freedom of Information Officer who will providing it is a valid request as set out in the legislation pass it on to a designated decision-maker to be dealt with. If the request is unclear or is not a valid request the FOI officer will liaise with the requester and make every effort to provide assistance to the...

Written Answers — Credit Availability: Credit Availability (30 Sep 2010)

Brian Lenihan Jnr: With regard to the provision of business credit, both AIB and Bank of Ireland have committed to providing not less than €3 billion each for new or increased credit facilities to SMEs in both 2010 and 2011. These plans were reviewed by John Trethowan and the Department and were found to be credible. Both Mr. Trethowan and the Department receive monthly progress reports from the two banks...

Written Answers — Fiscal Policy: Fiscal Policy (30 Sep 2010)

Brian Lenihan Jnr: Commissioner Semeta was in Dublin on Monday 20th September last to address a joint EU-USA conference for investigators and prosecutors on the subject of tobacco fraud which was organised by the European Anti-fraud Office and the Revenue Commissioners. In the margins of that conference I had a bilateral discussion with the Commissioner and his officials on EU tax policy issues including the...

Written Answers — State Banking Sector: State Banking Sector (30 Sep 2010)

Brian Lenihan Jnr: There is no doubt that the perceived uncertainty about the total cost of addressing the problems at Anglo Irish Bank has been cited as adversely impacting on the cost of Sovereign borrowing and for Irish financial institutions generally. These total costs arise because of the appalling lending decisions by the bank prior to nationalisation and the losses incurred in that regard. It is not...

Written Answers — National Asset Management Agency: National Asset Management Agency (30 Sep 2010)

Brian Lenihan Jnr: The National Asset Management Agency Act 2009, Section 211(1) specifies that NAMA has recourse through the High Court in the event that a debtor has disposed of an eligible bank asset, in order to defeat, delay or hinder the acquisition by NAMA. I am informed by NAMA that it will take the appropriate action where it considers that this has occurred.

Written Answers — State Banking Sector: State Banking Sector (30 Sep 2010)

Brian Lenihan Jnr: As I indicated in my Statement earlier today much has been said about senior debt obligations in Anglo Irish Bank. The position is that senior debt obligations rank equally with deposits and other creditors under Irish law. I have no plans to change this position. There is, therefore, no question of seeking to impose losses on holders of such senior debt in Anglo or indeed in any other credit...

Written Answers — Financial Institutions Recapitalisation: Financial Institutions Recapitalisation (30 Sep 2010)

Brian Lenihan Jnr: In April of this year following consultations with the Irish authorities, Eurostat published an estimated General Government Deficit for 2010 of €18.5 billion. At that stage the significant capital supports needed for the banks were not included as work was ongoing in that regard. Earlier today, I announced the final figures for the banks and I indicated that as a result of the supports...

Written Answers — Public Sector Staff: Public Sector Staff (30 Sep 2010)

Brian Lenihan Jnr: Following the recent publication of the Quarterly National Household Survey (QNHS) by the Central Statistics Office, officials from my Department contacted officials of the Central Statistics Office to discuss the differences between the numbers attributed in the QNHS to the "public sector" and the "public service" numbers as collated by my Department. The outcome of these contacts is a...

Written Answers — Commissions of Investigation: Commissions of Investigation (30 Sep 2010)

Brian Lenihan Jnr: On 7 July 2010, the Government announced its decision to establish a Commission of Investigation into the banking sector in Ireland. The Commission was formally established on 21 September 2010 by Government Order. The person concerned will receive a per diem fee of €1,000 plus an allowance of €4,000 per month towards travel and accommodation expenses for the duration of the work of the...

Written Answers — Credit Availability: Credit Availability (30 Sep 2010)

Brian Lenihan Jnr: The Government is concerned about conditions for enterprise and has taken a series of initiatives to increase the flow of credit to the real economy, most notably, the establishment of the Credit Review Office and the €3bn SME lending plans of AIB and Bank of Ireland which I feel will ensure that viable SMEs continue to access credit.

Written Answers — National Asset Management Agency: National Asset Management Agency (30 Sep 2010)

Brian Lenihan Jnr: To date loan assets belonging to Anglo with a nominal value of €16 billion have transferred to NAMA for a consideration of €7 billion representing an overall discount of 58%. As I announced in my statement earlier today, it is now intended to transfer Anglo's remaining eligible bank assets in one single tranche by the end of October. NAMA has completed a review of the assets securing the...

Written Answers — State Banking Sector: State Banking Sector (30 Sep 2010)

Brian Lenihan Jnr: The Deputy will be aware that the particulars of the disposal of the Austrian subsidiary were disclosed in the Notes to the 2009 Annual Reports & Accounts. Note 14 to these accounts (page 75) provides details on the transaction, including a sales figure of €141m for the disposal and a profit of €49m. The note also indicates that the Bank provided the purchaser with a €24 million long...