Written answers

Wednesday, 28 April 2010

Department of Finance

Financial Institutions Support Scheme

Photo of Pat BreenPat Breen (Clare, Fine Gael)
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Question 95: To ask the Minister for Finance if he is in a position to identify all of the bond-holders; the size of their exposure; the extent to which their risk has been insured within financial institutions which the State fully controls; and if he plans to publish that information in broad terms that would be consistent with necessary confidentiality. [17125/10]

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. As is the case for credit institutions generally, credit institutions which the State controls, namely Anglo Irish Bank and Irish Nationwide 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 and Irish Nationwide Building Society is published by the institution in their annual accounts and on other occasions as appropriate. Information on the debt issuance under the Eligible Liability Guarantee Scheme is also available on the NTMA website (www.ntma.ie). Details of the amounts guaranteed under the schemes are not published on an institution by institution basis because of the commercial sensitivity of such information.

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