Tommy Broughan (Dublin North East, Labour)
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Question 129: To ask the Minister for Finance the level of payments on the promissory note payments over the next ten years; the expected interest level payments on the promissory notes from 2013; the reduction or elimination of these payments that he hopes to achieve; and if he will make a statement on the matter. [26926/11]

Michael Noonan (Limerick City, Fine Gael)
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There are promissory notes in Anglo (€25.3 billion ) and INBS (€5.3 billion) and in EBS (€0.25 billion). As Anglo and INBS have similar terms I will provide the information for them together and separately deal with EBS.

The promissory notes were issued in various tranches with different interest rates (four tranches for Anglo and 2 tranches for INBS). The total interest cost for the State for all tranches of the Anglo and Irish Nationwide promissory notes is circa €17 billion with annual repayments of €3.1 billion per annum. These annual repayments reduce over time as the various tranches of the promissory note are repaid. The final payment on the promissory note of circa €0.1 billion will be made on 31 March 2031. Set out below is a detailed aggregated schedule of capital repayments and interest on the promissory notes.