Written answers

Wednesday, 10 November 2010

9:00 pm

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)
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Question 153: To ask the Minister for Finance if he is satisfied that he has been given all the information regarding the full extent of indebtedness in the banking sector; and if he will make a statement on the matter. [42034/10]

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)
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Question 154: To ask the Minister for Finance the reason the full extent of indebtedness in the banking system was not made known to him or his Department in 2009; and if he will make a statement on the matter. [42035/10]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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I propose to take Questions Nos. 153 and Question 154 together.

Information on the banking system is collected by the Central Bank and aggregate figures are routinely published. Since the introduction of the Guarantee, more detailed figures on the covered institutions have been supplied to my Department on a regular basis.

The annual reports of individual banks with audited figures are published regularly.

In addition, the Central Bank carried out an exercise to determine the forward-looking prudential capital requirements (PCAR) of financial institutions covered by the Guarantee. The PCAR assessed the capital requirements arising for expected base and potential stressed loan losses over a 3 year period and was undertaken to determine the recapitalisation requirements of the credit institutions.

The Deputy will be aware of the recapitalisation requirements of the banks which I spoke about in my Statement on Banking on 30 September 2010.

I am satisfied that the Central Bank monitors bank indebtedness and has kept me informed on his results.

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