Written answers
Wednesday, 12 January 2011
Department of Finance
Banks Recapitalisation
2:30 pm
Tommy Broughan (Dublin North East, Independent)
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Question 78: To ask the Minister for Finance the amount of capital that has been pumped into the Irish banking system since 30 September 2008; the amount of further capital he envisages pumping into the banking system during the first three months of 2011; and if he will make a statement on the matter. [1367/11]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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| Capitalisation of Credit Institutions | |||||||
| Credit Institution | Cost of Share Acquisition | Cost of Preference Shares | Value of Promissory Notes Issued | Capital Provided to 31 December 2010 | Additional CT1 required by Central Bank | Return on Investment to date* | Projected Total Assistance |
| €bn | €bn | €bn | €bn | €bn | €bn | ||
| Anglo Irish Bank | 4 | - | 25.28 | 29.280 | - | - | 29.28 |
| Allied Irish Banks | 3.7 | 3.5 | - | 7.200 | 6.065 | - | 13.27 |
| Bank of Ireland | 1.7 | 1.8 | - | 3.500 | 2.199 | -0.49 | 5.21 |
| Irish Nationwide Building Society | 0.1 | - | 5.3 | 5.400 | - | - | 5.40 |
| EBS Building Society | 0.625 | - | 0.25 | 0.875 | 0.438 | - | 1.31 |
| Total | 10.1 | 5.3 | 30.8 | 46.3 | 8.7 | -0.49 | 54.467 |
| * Cash received on cancellation of Warrants | |||||||
The table above sets out the amount of capital injected by the State into the Irish Banking System to date. The Central Bank has set out the further capital that will be required by AIB, BOI and EBS in order for them to meet a 12% core tier 1 ratio by the end of February 2011 as agreed in the Programme for Financial Support with the IMF, EU and the ECB.
The State remains committed to meeting this capital requirement to the extent that it cannot be met from other sources.
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