Written answers

Wednesday, 20 October 2010

Department of Finance

Financial Institutions Support Scheme

9:00 pm

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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Question 144: To ask the Minister for Finance the way he is ensuring that Allied Irish Bank and Bank of Ireland meet the lending commitments to the small and medium enterprise sector under the bank recapitalisation scheme. [38037/10]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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The Deputy will be aware that my Department and Mr. Trethowan of the Credit Review Office receive monthly progress reports from the two banks which allow us to monitor their lending to viable businesses in all sectors of the economy and in every area of the country. This information is commercially sensitive. The banks have 12 months to reach their targets and the overall results of their activities will be published in due course.

In addition to the monitoring, the Credit Review Office reviews decisions of banks to refuse credit on application from the customer to ensure that the banks are not refusing to lend to viable businesses.

Mr. Trethowan's first quarterly report was of course published and I intend publishing his next report when it is received.

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