Catherine Murphy (Kildare North, Independent)
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Question 46: To ask the Minister for Finance the control systems he has put in place to ensure that the €20 billion earmarked for loans to small and medium sized business as part of the bank recapitalisation initiative are actually used for that purpose; and if he will make a statement on the matter. [14213/11]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy may be aware that the restructuring plan creates capacity for the Pillar Banks to provide lending in excess of €30 billion in the next three years. SME and new mortgage lending for these banks is expected to be in the range of €16-20bn over this period. In each bank, a team of senior managers will be dedicated to the sole task of ensuring lending continues to grow to support economic growth. Both AIB and Bank of Ireland provide my Department with monthly figures on balance sheet volumes, sanctioned facilities and geographic and industrial breakdowns of their SME lending. In addition, under the terms of the Government recapitalisation, both banks also produce a quarterly report which incorporates figures for sanctions and drawdowns by SMEs. The data contained in these reports will continue to be reviewed and analysed by my Department and the Credit Review Office to ensure that the banks are compliant with the terms of the Government recapitalisation as it relates to the provision of credit for SMEs.