Seán Fleming (Laois-Offaly, Fianna Fail)
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Question 95: To ask the Minister for Finance the amounts provided for in respect of residential mortgages on an institution by institution basis in the recent stress test on our banks to cover bad or doubtful debts; if he is satisfied that these are reasonable amounts; and if he will make a statement on the matter. [13829/11]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy will be aware that the Central Bank of Ireland published its Financial Measures Programme Report in March 2011, which included an independent loan loss assessment exercise performed by BlackRock Solutions. The information requested by the Deputy can be found in that Report which is available on the Central Bank's website, www.centralbank.ie. As I said in my Statement on Banking in March, the PCAR bank stress tests carried out by the Central Bank are among the most thorough and demanding such tests ever performed in Ireland and or indeed anywhere. The detailed results methodology and assumptions underlying these stress tests have been published, emphasising Ireland's firm commitment for this critical exercise to be fully open and transparent. In specific terms, I am satisfied on the basis of the results of the PCAR assessment carried out by the Central Bank which have been endorsed by the external authorities that the loan loss assumptions made in respect of residential mortgages reflect a high degree of conservatism and underpin the robustness and credibility of the exercise overall.