Bernard Durkan (Kildare North, Fine Gael)
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Question 106: To ask the Minister for Finance if he has satisfied himself that he has received full information from all of the banks operating here and the required information relating to solvency and liquidity of their institutions in the context of recent legislation and with particular reference to protecting the taxpayer; and if he will make a statement on the matter. [39149/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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In accordance with the terms of the Credit Institutions (Financial Support) Scheme all covered institutions are required to provide such information or reports as I, or the Financial Regulator on my behalf, may require. Under the Scheme covered institutions are also required to submit reports required by the Financial Regulator to monitor compliance with the terms and conditions of the Scheme. These reports will deal with, inter alia, liquidity requirements, capital ratios, asset quality, risk exposures and funding costs, and be submitted with such frequency and in such form as the Financial Regulator requires. Covered institutions will also be required to report on their compliance with the scheme itself on a quarterly basis and with the Irish Banking Federation Code of Practice on Mortgage Arrears and the Financial Regulator's Consumer Protection Code, at such frequency as I may require.

The reporting requirements under the scheme are additional to the regulatory framework already in place whereby all Irish licensed credit institutions report their solvency and liquidity positions to the Financial Regulator on an ongoing basis and the Financial Regulator has full legal powers to seek relevant information from the credit institutions in order to fulfil its statutory mandate.

The Deputy will appreciate that I will be working closely with the Financial Regulator regarding the reporting requirements under the Scheme.