Aengus Ó Snodaigh (Dublin South Central, Sinn Fein)
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Question 25: To ask the Minister for Finance if he expects any further recapitalisation requirements by the pillar banks in 2012; and if moneys from the NPRF discretionary fund are being ring-fenced for this purpose. [19311/12]

Michael Noonan (Limerick City, Fine Gael)
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The Irish banks have been recapitalised to meet the requirements of the Central Bank of Ireland's 2011 Financial Measures Programme, which incorporated a 3 year stress test to 2013, and was among the most thorough and demanding such tests ever performed in Ireland or indeed anywhere. The Central Bank's 2011 stress test was fully endorsed by our external partners that the loan loss assumptions made reflected a high degree of conservatism and underpinned the robustness and credibility of the exercise overall. Any investment by the NPRF in Irish banks is made on foot of a Ministerial direction. No such directions have been provided to the NPRF since the recapitalisations of AIB and Bank of Ireland that were completed in July 2011.