Results 14,921-14,940 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: State Banking Sector Regulation (18 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 121 and 166 together. As stated in the programme documents that were published following the April 2013 Troika mission a stress test of the covered institutions will be conducted in accordance with the new EU methodology, ahead of and in close proximity to the upcoming Single Supervisory Mechanism (SSM) exercise. The intention is to ensure that appropriate...

Written Answers — Department of Finance: NAMA Loan Book (18 Jul 2013)

Michael Noonan: One of NAMA’s key objectives is to manage its assets so as to optimise, and capture for debt servicing, their income producing potential, for example, rental income. The capturing of such non-disposal income was not a common feature prior to NAMA’s acquisition of the loans and NAMA has undertaken significant steps to design and implement new structures so as to achieve this...

Written Answers — Department of Finance: EU-IMF Programme of Support Drawdowns (18 Jul 2013)

Michael Noonan: Ireland’s EU/IMF Programme will result in €67.5 billion in loans from official lenders as follows: - EFSF (€17.7 billion) - EFSM (€22.5 billion) - IMF (€22.5 billion) and - Bilateral loans of €4.8 billion (United Kingdom: €3.8 billion, Kingdom of Sweden: €0.6 billion and Kingdom of Denmark: €0.4 billion). The IMF borrowings are...

Written Answers — Department of Finance: National Treasury Management Agency Issues (18 Jul 2013)

Michael Noonan: I am informed by the National Treasury Management Agency (NTMA) that the Exchequer had €26.2 billion on hand in cash and deposits at end-June 2013. It is important that the Exchequer should maintain a sufficiently strong cash position when the EU/IMF Programme comes to a conclusion at the end of the year, for reasons of prudence and to assure investors that they will be repaid upon...

Written Answers — Department of Finance: Departmental Correspondence (18 Jul 2013)

Michael Noonan: The position on this remains that which I outlined to the Deputy in my reply to his similar Question (No 155) of 28th June 2011. While the immediate crisis that this Government inherited when it took office has been averted, it remains important for relationships between institutions to be developed and sustained, in order to allow for confidential negotiations to take place, especially on...

Written Answers — Department of Finance: Budget 2013 (18 Jul 2013)

Michael Noonan: Taxation provisions included in the Finance Act 2013 and the Finance (Local Property Tax) Act 2012 in relation to measures set out in Budget 2013 will result in an estimated carryover of around €300 million in 2014. There was also carryover from changes to PRSI in Budget 2013. Measures in relation to the maximum allowable pension fund at retirement to be introduced in 2014 were also...

Written Answers — Department of Finance: NAMA Court Cases (18 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 127 and 169 together. I am advised by NAMA that it has instigated proceedings for the recovery of debt against a number of NAMA debtors, including the initiation of actions for the reversal of asset transfers, actions arising from bankruptcy proceedings and high value repossessions, and that there are currently 33 such proceedings on-going. The Deputy may...

Written Answers — Department of Finance: NAMA Property Sales (18 Jul 2013)

Michael Noonan: I am advised by NAMA that to end-May 2013 its debtors and receivers had recorded 3,800 cash receipts in respect of asset sales totalling €8.26bn. NAMA advises that cash receipts may relate to the sale of individual properties or the sale of multiple property units as well as the sale of non-real estate assets. Included in these cash receipts are the sale of 5,500 individual property...

Written Answers — Department of Finance: Departmental Agencies Reports (18 Jul 2013)

Michael Noonan: I am advised that a number of reports have been produced by Ernst and Young and McCann FitzGerald at the request of the INBS Board. Copies of all of these reports have been provided to the Central Bank of Ireland under the terms of a protocol for limited disclosure agreed between the parties to preserve legal privilege over the material. A report was also provided to the Gardaí in this...

Written Answers — Department of Finance: NAMA Staff Remuneration (18 Jul 2013)

Michael Noonan: National Asset Management Agency (NAMA) staff are employees of the National Treasury Management Agency (NTMA) and are assigned to NAMA by the NTMA. Details of NTMA salaries by salary band are set out in the NTMA’s annual report. The Annual Report 2012 (expected to be published today 18 July) sets out salary band information in respect of staff assigned to NAMA as of 31 December 2012....

Written Answers — Department of Finance: National Equity Management Agency (18 Jul 2013)

Michael Noonan: I have no plans to establish an Equity Management Agency along the lines described by the Deputy at this time.

Written Answers — Department of Finance: Departmental Agencies Pension Provisions (18 Jul 2013)

Michael Noonan: In response to the Deputy's question I nave been provided with the following information in respect of bodies under the aegis of my Department. National Treasury Management Agency Superannuation entitlements of NTMA staff are conferred under a defined benefit superannuation scheme set up under Section 8 of the National Treasury Management Agency Act 1990 - the National Treasury...

Written Answers — Department of Finance: Ministerial Expenditure (18 Jul 2013)

Michael Noonan: In response to the Deputy’s question in the period since May 2011 to 31 May 2013 I claimed for some 130,486 kilometres in respect of the use of my car for official business and received a total of €43,157 for the period in question. No payments were made in respect of car usage to the Minister of State by my Department in the period in question.

Written Answers — Department of Finance: Legislative Process (18 Jul 2013)

Michael Noonan: In the time available my Department has supplied me with the information set out as follows. Credit Union and Co-operation with Overseas Regulators Act 2012 One hundred and seventy four Government amendments were accepted at Committee Stage in the Seanad and another six were accepted at Report Stage in the Seanad. A wide range of issues were raised by members in both Houses in the course of...

Written Answers — Department of Finance: IBRC Liquidation (18 Jul 2013)

Michael Noonan: I acknowledge the significant efforts and commitment made by the staff in IBRC over the past few difficult years whilst the bank was in wind down and the difficulties that arise for staff as a result of the liquidation but it was necessary to take the decision to liquidate IBRC in the larger public interest. I am sure the staff will continue to work to ensure a satisfactory outcome for Irish...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (18 Jul 2013)

Michael Noonan: The Special Liquidators of IBRC have been directed to procure that the valuation of IBRC’s assets is completed by 30 November 2013. This valuation is being undertaken by independent third parties in accordance with the Ministerial Instruction provided to the Special Liquidators. The Special Liquidators have appointed UBS and PWC to value different segments of the IBRC loan portfolio....

Written Answers — Department of Finance: IBRC Liquidation (18 Jul 2013)

Michael Noonan: On 10 May 2013, an amendment to the Ministerial Instruction was issued to the Special Liquidators providing further instruction on the deadlines to be met for the valuing and subsequent sale of IBRC assets. Per this revised Instruction, 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...

Written Answers — Department of Finance: IBRC Liquidation (18 Jul 2013)

Michael Noonan: I have been advised that the Special Liquidators are aware of a number of depositors who fall outside the eligibility criteria for the ELG Scheme due to the nature of the investment product. Unfortunately, if a deposit is not eligible under the ELG scheme the depositor will rank as an unsecured creditor in the liquidation. At the time that this investment product was purchased by Credit...

Written Answers — Department of Finance: NAMA Portfolio Issues (18 Jul 2013)

Michael Noonan: NAMA advises that detail on the breakdown of property securing its loans, by asset class and county, is provided in its Annual Report and Financial Statements for 2011, which is available on the NAMA website, www.nama.ie. NAMA is prohibited under Section 99 and 202 of the NAMA Act from disclosing confidential information, including in respect of individual debtor properties. A full list of...

Written Answers — Department of Finance: Banking Sector Remuneration (18 Jul 2013)

Michael Noonan: As the Deputy will be aware I provided the following information in response his question no. 192 (51096/12) of 20 November 2012 - AIB BOI IBRC PTSB Number of staff on total remuneration package (including pension payments, allowances, expenses and benefits of between €100,000-€200,000 1,159 1,110 190 164 Number of staff on total remuneration package (including pension...