Written answers

Tuesday, 21 February 2012

Department of Finance

Banks Recapitalisation

9:00 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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Question 180: To ask the Minister for Finance if he will detail all ELA loans currently held by IBRC detailing the amount of the loans, the interest being charged on the loans, the maturity dates of the loans; and if he will make a statement on the matter. [9673/12]

Photo of Michael NoonanMichael Noonan (Minister, Department of Finance; Limerick City, Fine Gael)
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The information requested by the Deputy is commercially sensitive and is not specifically disclosed by the Central Bank. However, details of Anglo Irish Bank's primary sources of funding are disclosed in the former bank's interim report for the six months ended 30 June 2011which are accessible at the attached link. These accounts will be updated in the IBRC Annual Report & Accounts for 2011 due for publication at the end of March of this year. The Deputy will be aware that while there is an implicit link between the current repayment schedule on the Promissory Note and ELA there is no specific repayment schedule, as such, in relation to ELA. Any discussions in relation to ELA would of necessity have to include the ECB.

As I have indicated I am committed to reviewing the approach to the Promissory notes with a view to reducing the overall cost to the State of correcting the banking system.



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