Pearse Doherty (Donegal South West, Sinn Fein)
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Question 101: To ask the Minister for Finance when the next round of PCAR stress tests are due to take place; if they have been delayed, the reason for same; and if he will make a statement on the matter. [17798/12]

Michael Noonan (Limerick City, Fine Gael)
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It has been agreed with the External Partners that, as part of the Financial Measures Programme (FMP), PCAR 2012 results will ideally be published in coordination with EBA and in any event no later than end-November 2012. In preparation for PCAR 2012 the Central Bank has also agreed to conduct detailed preparatory work including: an asset quality review of Irish banks' portfolios using an independent advisor; bank data verification to ensure consistency; a review of income and loan impairment recognition practices; and, an engagement with the banks on their loan portfolio resolution strategies and systems.

This timeline allows for the completion of this detailed preparatory work, whilst seeking to maintain the distinctive rigor and standards of PCAR 2011.