Stephen Donnelly (Wicklow, Independent)
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To ask the Minister for Finance the information he has on the level of insurance held by the purchasers of senior unguaranteed bank bonds, in the event that they were not paid back in full; and if he will make a statement on the matter. [52184/12]

Michael Noonan (Limerick City, Fine Gael)
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Unlike in the case of shares, the holders of banks senior and subordinated debt instruments are not subject to a disclosure regime. When a bank issues a bond, whether by private placement or public issue, it would be usual practice for these to be settled through intermediaries and held by custodians, for example Clearstream or Euroclear.

These securities are traded in the open market and settled by clearing house systems. An issuer does not have any access to the records of the clearing house and as such, cannot identify the underlying ownership.

Therefore, I can confirm that neither the banks nor the Government have an accurate means of establishing the underlying ownership of securities issued by the banks at a particular point in time.

Equally therefore, I cannot advise the deputy in respect of the levels and types of insurance, individual bondholders may maintain in respect to particular bonds held by them.