Written answers

Tuesday, 25 October 2011

Department of Finance

Banks Recapitalisation

9:00 pm

Photo of Peter MathewsPeter Mathews (Dublin South, Fine Gael)
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Question 127: To ask the Minister for Finance the amount of Government bonds that were assets of Allied Irish Bank immediately prior to the 31 July recapitalisation; the amount of Government bonds that are assets of Allied Irish Bank currently; and if he will make a statement on the matter. [31171/11]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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The latest publicly available figures on the amount of Eurozone Government bonds, including Irish government bonds, held by AIB were published as part of the EU wide bank stress tests on 15 July 2011. A link to the main release on the Central Bank of Ireland's website is below. http://www.centralbank.ie/press-area/press-releases/Pages/2011EU-WideBankStressTestResultsforIrishBanksPublished.aspx

The results published by the Central Bank contain an individual PDF report for AIB detailing the various Eurozone and other Sovereign exposures, including Ireland, as of 31 December 2010. The Sovereign debt exposures are shown starting on page 7 of the PDF report.

Additionally, AIB provided updated partial disclosure on their sovereign exposures as part of their 30 June 2011 half year results, the full detail of which can be found on page 27 of the document at the link below on the AIB website. http://www.aib.ie/servlet/ContentServer?pagename=AIB_Investor_Relations/AIB_Download/aib_d_download&c=AIB_Download&cid=1314616620712&channel=IRFP

I am informed by the bank that an up-to-date disclosure of its Irish Government bond holdings is not currently available on the grounds of commercial sensitivity and would only ordinarily be updated at accounting period ends or as part of other market announcements

Photo of Brendan GriffinBrendan Griffin (Kerry South, Fine Gael)
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Question 128: To ask the Minister for Finance his views on a matter (details supplied); if he intends to deliver on this commitment; and if he will make a statement on the matter. [31173/11]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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The Programme for Government commits the Government to examining a proposal to increase mortgage interest relief to 30% for first time buyers who bought between 2004 and 2008 to be financed in part by the abolition of mortgage interest relief for new buyers from mid 2011. This proposal was considered by the Inter-Departmental Group on Mortgage Arrears but was not recommended by the 0Group. However, all tax matters remain for consideration in the context of the annual Budget and this remains the position.

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