Written answers

Thursday, 26 March 2009

Department of Finance

Banking Sector Regulation

4:00 pm

Photo of Lucinda CreightonLucinda Creighton (Dublin South East, Fine Gael)
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Question 20: To ask the Minister for Finance if, in view of the revelations regarding irregular lodgements between Anglo Irish Bank and another bank (details supplied) in the accounting year from September 2007 to September 2008, there were similar lodgements between Anglo Irish Bank and that bank or any of their subsidiaries or associated companies in the previous accounting year; and if he will make a statement on the matter. [12454/09]

Photo of Lucinda CreightonLucinda Creighton (Dublin South East, Fine Gael)
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Question 30: To ask the Minister for Finance if, in view of the revelations regarding irregular lodgements between Anglo Irish Bank and a bank (details supplied) in the accounting year from September 2007 to September 2008, there were similar lodgements between Anglo Irish Bank and another bank or any of their subsidiaries or associated companies in the previous accounting year; and if he will make a statement on the matter. [12455/09]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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I propose to take Questions Nos. 20 and 30 together.

The transactions to which the Deputy refers, between Anglo and IL&P, are currently under investigation and I can not comment on those. However, I understand that these were exceptional due to the materiality of the transactions and the involvement of a non-bank subsidiary. I am not aware of any similar such transactions between Anglo Irish Bank and IL&P.

I am aware that there are ongoing financial transactions between Anglo Irish Bank and other financial institutions, in normal trade. Such transactions include transactions between Anglo and the bank referred to, in Question 12455/09, during 2006 and 2007. I am assured by the Financial Regulator the transactions with the bank are not similar to the IL&P transactions on the grounds of the materiality level of the transactions and the fact that there was no involvement of a non-bank subsidiary.

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