Michael McGrath (Cork South Central, Fianna Fail)
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Question 55: To ask the Minister for Finance the income received to date and the expected income to be received by the State arising from the bank guarantee scheme of 30 September 2008 and from the extension of the guarantee scheme. [9717/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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As the Deputy is aware, the Covered Institutions (Financial Support) Scheme 2008 (CIFS) came into effect on 30 September 2008 and is due to expire on 29 September 2010. The Eligible Liabilities Guarantee Scheme (ELG) commenced on 9 December 2009 and liabilities issued under this Scheme can have a maximum maturity of five years up to September 2015.

The amount of money paid under the Credit Institution (Financial Support) Scheme in the mandated Central Bank account, including interest accrued to date, is €718,360,000. We intend to collect at least €1bn from the credit institutions covered under CIFS and ELG guarantees for the period September 2008 to September 2010.

As institutions participating in the ELG can issue covered liabilities up to 29 September 2010, the closing date of the Scheme, it is not possible to determine the amount of fees each participating institution will pay for the duration of the Scheme.

In addition to the charge for the Guarantees levied on the covered institutions, institutions under the Guarantees are obliged to recoup the administrative costs of the Guarantees to the Minister. To date payments of €2,495,459 have been made and received by my Department as an appropriation-in-aid, covering the period September 2008 to April 2009. There will be further charges made periodically between now when the Schemes end.