Olivia Mitchell (Dublin South, Fine Gael)
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Question 127: To ask the Minister for Finance his views on the recent agreement between the Central Bank and the Unite union which will result in extra holidays and pay in return for accepting normal work practices; if his approval is required; if such an agreement is consistent with reducing the cost of the public service; and if he will make a statement on the matter. [15238/11]

Olivia Mitchell (Dublin South, Fine Gael)
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Question 162: To ask the Minister for Finance his views on the recent agreement between the Central Bank and the Unite union which will result in extra holidays and pay in return for accepting normal work practices; if his approval is required; if such an agreement is consistent with reducing the cost of the public service; and if he will make a statement on the matter. [15661/11]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 127 and 162 together.

The employment of staff by the Central Bank of Ireland is a matter for the Governor and the Central Bank Commission. I do not have a role in setting or approving the numbers of staff appointed by the Bank or their terms and conditions of employment.

The staff costs of the Central Bank of Ireland are not met by Exchequer funds voted by Dáil Éireann as is the case of public service employment generally. The Central Bank finances its activities from its own income - including fees in respect of financial regulation - the surplus of which is surrendered annually to the Central Fund. This surrender amounted to some €670 million in 2010.