Results 1-14 of 14 for ibrc segment:8429885
Did you mean: ibec segment:8429885?
- Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022) Brian Stanley: ...The Department has also been advised that the committee may also wish the examine the following during the meeting: expenditure relating to the liquidation of the Irish Bank Resolution Corporation, IBRC; the funding of superannuation liabilities at the Financial Services and Pensions Ombudsman, FSPO; exceptional payments made from the Central Fund to the European Union arising from an...
- Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022) ..., the examination estimated that at the end of 2021 the net cost to the State from the banking stabilisation measures was around €45.7 billion. At an individual institution level, the most significant net costs were in respect of the Irish Bank Resolution Corporation, IBRC, and AIB. Their stabilisation had an estimated net cost of €37.3 billion and €13.1 billion...
- Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022) ...from €41.7 billion at the end of 2018 to €45.7 billion at the end of 2021. The increase was primarily due to the value of the State’s investments in the three banks falling over this time. The most significant costs to the State at the end of 2021 were in respect of the IBRC, which had a net estimated cost of €37.3 billion, the vast majority of which will...
- Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022) Catherine Murphy: I welcome the witnesses. It will be only a few short months until it is ten years since the Irish Bank Resolution Corporation, IBRC, was liquidated and we have another couple of years before the outworkings of that are complete. The briefing document refers to “a net estimated cost of €37.3 billion, the vast majority of which ... will never be recovered.” I cannot find...
- Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022) Mr. Des Carville: I can help the Deputy there. In equity terms, about €35 billion went into the IBRC and Irish Nationwide. When we talk about how much we will realise, we have about ten assets left to sell. When I last appeared before the committee, in May, we had 12 assets and we have sold two pubs since then, and there is some litigation outstanding as well. There is a bit of...
- Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022) Catherine Murphy: When the IBRC work is finally concluded, what will happen to the records? Will they be transferred to the Department of Finance? Has that been decided or worked through?
- Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022) Colm Burke: I thank the witnesses for appearing before the committee this morning to deal with the issues. Regarding the bailout of the banks, the estimated net cost for IBRC was €37.3 billion but the overall cost is around €45 billion. Can we get a breakdown of what each of the financial institutions cost us? I am looking for the net cost in real terms of AIB, Bank of Ireland, PTSB and...
- Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022) Colm Burke: Therefore, in real terms, AIB cost us €4.3 billion. The big one was that IBRC was over €37 million in real terms.
- Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022) Mr. Des Carville: For IBRC, between the two banks, Anglo Irish Bank and Irish Nationwide, €35 billion went in. As I mentioned earlier to Deputy Catherine Murphy, we would expect less than €1 billion coming back from that.
- Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022) Catherine Murphy: To go back to the Irish Bank Resolution Corporation, IBRC, do we know what the recovery was pre-liquidation and post liquidation? I presume there would have been some recovery pre-liquidation. Was that work done at the time of the liquidation? Is this known?
- Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022) Catherine Murphy: ...banks and the holding of part-ownership of the banks, which is still the case with AIB and PTSB. Is the cost to the Department factored into it as well? I am aware it would not be exclusive to IBRC, but IBRC is the biggest one.
- Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022) ...Within the living banks, the Deputy is quite right. We have two investments now, AIB and PTSB, and a three-person team working full time on that project. There are some similarities between what IBRC does and what NAMA does in that they both wind down vehicles selling legacy assets. The same team within my division look after both of those.
- Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022) Catherine Murphy: Supposing all of the shares in AIB are sold and IBRC has been wound down, and PTSB would be relatively small in comparison with the others, is there a function for that section?
- Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022) Brian Stanley: ...lending system, construction undertaken without any regulations and all that nonsense. Some concerns exist now regarding inflationary pressures. Part of this morning's discussion focused on the IBRC, NAMA and AIB, all of which came about as a consequence of the period I referred to. Much of that activity was concentrated in residential property and its financing. The Parliamentary...