Pearse Doherty (Donegal South West, Sinn Fein)
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215. To ask the Minister for Finance if the Irish Bank Resolution Corporation, in which he is the sole shareholder of 100% of the shares, has a banking licence; the specific requirements of such a licence for IBRC; the person who issued IBRC with a banking license; and the date on which its banking licence was renewed [2733/13]

Michael Noonan (Limerick City, Fine Gael)
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IBRC has confirmed that it has a banking licence which was issued by the Central Bank of Ireland (“CBI”) on 19th May 1987 and which remains in effect today. As a licensed credit institution, IBRC is subject to the CBI's Licensing and Supervision Requirements for Credit Institutions along with a wide range of other legal and regulatory obligations.

Pearse Doherty (Donegal South West, Sinn Fein)
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216. To ask the Minister for Finance if the Irish Bank Resolution Corporation, in which he is the sole shareholder of 100% of the shares, has a bank account or bank accounts; with whom, and the number of bank accounts IBRC has, the terms and conditions of these accounts; and if IBRC has an overdraft facility, the interest rate and the surcharge interest rate on IBRC's bank account or bank accounts [2734/13]

Michael Noonan (Limerick City, Fine Gael)
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IBRC has informed me that the bank maintains a variety of bank accounts with correspondent banks across a variety of currencies. These accounts are used to enable customer loan repayments, derivative settlements, payment of supplier invoices, foreign currency settlements, etc. At 31 December 2012 IBRC maintained approximately 30 active bank accounts with correspondent banks. All bank accounts maintained by IBRC are operated on negotiated commercial terms.