Written answers

Tuesday, 20 April 2010

Department of Finance

Financial Services Regulation

9:00 pm

Photo of Róisín ShortallRóisín Shortall (Dublin North West, Labour)
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Question 226: To ask the Minister for Finance if he will lay before the Houses of the Oireachtas all information available to him on the senior and junior bondholders for Anglo Irish Bank, the Irish Nationwide Building Society and the Educational Building Society; if he will provide a breakdown of the amount due to be paid by Anglo Irish Bank, Irish Nationwide Building Society and the Educational Building Society to bondholders; the names and legal status of the bondholders; when the bonds were issued; the value of bonds that originated before the State bank guarantee; if he will outline the cost that originated afterwards; if he will outline the reason, as this information is no longer commercially sensitive, it was not provided in the supplementary documentation for his statement on banking on 30 March 2010; his views on the claim that it is a fundamental distortion of democracy to proceed with the recapitalisation of each of these banks without making a full disclosure of the facts to the public; and his further views on whether this information should be provided and the reason the information has not been furnished. [15767/10]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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Detailed information on bondholders of domestic credit institutions senior and subordinated debt is not available.

Credit institutions, including Anglo Irish Bank, Irish Nationwide Building Society and the Educational Building Society, do not have access to comprehensive information on the holders of their senior and junior, or subordinated, debt, because such debt is publicly traded and dealt through clearing house systems. Issuers do not have access to the records of those systems and the issuer has no means of establishing the underlying ownership of its bonds at any given time. Unlike in the case of shares, the holders of credit institutions' senior and subordinated debt instruments are not subject to a disclosure regime.

Information on the debt issuance of Anglo Irish Bank, Irish Nationwide Building Society and the Educational Building Society is published by each institution in their annual accounts and on other occasions as appropriate. Information on the debt issuance by the institutions under the Eligible Liability Guarantee Scheme is also available on the NTMA website.

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