Aengus Ó Snodaigh (Dublin South Central, Sinn Fein)
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Question 106: To ask the Minister for Finance the most accurate figure for the amount of deposits guaranteed under the Credit Institutions (Financial Support) Act 2008; and if he will make a statement on the matter. [6305/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I assume the Deputy when referring to 'deposits' means the total covered liabilities guaranteed by the Government. Under the terms of the Scheme covered liabilities include: senior unsecured debt; asset covered securities; dated subordinated debt (Lower Tier 2); along with deposits (retail, corporate, and interbank). The estimated total amount of covered liabilities under the scheme for the final quarter of 2008 (an average of the end-month liabilities for October, November and December) amounts to €376bn. The banks are paying significant fees in respect of the Guarantee of some €450m per annum, based on the first two quarterly payments. For the institutions covered by the Government Guarantee, the deposits that are covered by the separate Deposit Protection Scheme (on deposits up to €100,000) amount to €90bn.