Michael McGrath (Cork South Central, Fianna Fail)
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Question 51: To ask the Minister for Finance when the bank stress tests for 2012 are expected to commence; when he anticipates that they will be completed; and if he will make a statement on the matter. [7419/12]

Michael Noonan (Limerick City, Fine Gael)
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The application of the stress tests of Irish Banks is not a function of the Department of Finance but the Central Bank has informed me that it is preparing for the 2012 Financial Measures Programme, including the application of an updated bank solvency stress test. The Irish PCAR stress test shall be run in the second half of 2012, in order to align with any EU-wide bank solvency stress test being applied by the European Banking Authority, but the Irish PCAR results shall be published by no later than 30 November 2012. The Central Bank is conducting much of the preparation for this stress test in the first half of 2012, including a review of deleveraging activities, liquidity metrics, arrears resolution strategies and detailed credit portfolio reviews.