Written answers

Wednesday, 12 January 2011

Department of Finance

Financial Reserves

2:30 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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Question 128: To ask the Minister for Finance the amount of the reserves at the Central Bank; the extent of the National Pensions Reserve Fund at this time; and if he will make a statement on the matter. [1404/11]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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I am informed by the Central Bank that the most recent published figure for the accounting reserves of the Bank is €1.5 billion. At 31 December 2010 the total value of the National Pensions Reserve Fund was €24.4 billion. This figure comprised €9.5 billion in the Directed Portfolio (the value of investments in Bank of Ireland and Allied Irish Banks held on the direction of the Minister for Finance) and €14.9 billion in the Discretionary Portfolio (the balance of the Fund excluding directed investments).

As announced on 28 November 2010, the assets of the National Pensions Reserve Fund are to be used as part of the State's €17.5 billion contribution to the €85 billion EU-IMF programme of lending to this country.

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