Brian Stanley (Laois-Offaly, Sinn Fein)
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Question 51: To ask the Minister for Finance if he agrees that allowing a company (details supplied) to be eligible for purchasing bank assets in Irish Bank Resolution Corporation after providing loan sale advice to IBRC would undermine international confidence in transparency of bank asset sales in Ireland; if he agrees that international perception amongst investors would be that this company would have a competitive advantage in bidding for assets put on the market by IBRC which could result in reduced value for the taxpayer; and if he will make a statement on the matter. [9972/12]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy will be aware that under the Relationship Framework the Board of the bank is responsible for the day to day operations of the bank. IBRC has retained the services of the 'strategic advisory arm' of the company referred to in the question which has been validated as independent of the 'investment arm' of the Group. IBRC can confirm that FTI Consulting's UK practice provided independent advice to the Bank in relation to the appointment of the 'strategic advisory arm' of the company referred to in the question. This was designed to ensure that no conflict of interest arises for IBRC in retaining the services of the company referred to in the question in this regard. FTI Consulting's US practice provided a similar role in the Bank's successful sale of its US loan portfolios which concluded recently to ensure that the process was open, fair and transparent and that established procedures were followed.

Aengus Ó Snodaigh (Dublin South Central, Sinn Fein)
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Question 52: To ask the Minister for Finance if any current member of Irish Bank Resolution Corporation management has been offered a job in a company (details supplied) now or in the future; and if he will make a statement on the matter. [9964/12]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy will be aware that under the Relationship Framework the Board of the bank is responsible for the day to day operations of the bank. IBRC have confirmed that no members of the IBRC management team have been offered a job in the company referred to in the question now or in the future. If the Deputy has any specific information in this regard I would be obliged to know so that the matter can be investigated and resolved.

Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein)
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Question 53: To ask the Minister for Finance if he will list all contracts awarded by AIB and currently in place with a company (details supplied) detailing the total value of the contracts, the purpose of the contracts, the terms of reference of these contracts, the personnel involved in the contracts, if any of the company's staff have been seconded to AIB; and if he will make a statement on the matter. [9952/12]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy will be aware, the use of external service providers is a matter for the management and board of the institution. I have no role in the day-to-day commercial and operational decisions of the banks, which include these matters. These decisions are taken by the board and management of the institution. Notwithstanding the fact that the State is a significant shareholder in the institution, the bank is run on a commercial arm's length basis as per the Memorandum on Economic and Financial Policies agreed with the EU Commission, the ECB and the IMF. In relation to costs incurred, the management and board of the institution are aware of their duties to their shareholders to ensure that all costs incurred by the bank are necessary and reflect the needs of the business.

Separately, I am informed by the Bank that in line with its normal practice, the bank has not publicly disclosed the specific contract details in respect of this firm as they deem such information to be commercially sensitive in respect of arrangements entered into with individual firms. The bank has however confirmed that the firm in question continues to provide AIB with consultancy services and the bank has further indicated that it remains committed to managing the cost of, and maximising the value from, this arrangement.