Written answers

Tuesday, 29 January 2013

Department of Finance

Bank Debt Restructuring

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will provide in tabular form, the par value of loans sold by Anglo Irish Bank in 2008, 2009, 2010 and 2011; the amount realised by territory for the South of Ireland, the North of Ireland, Britain, USA and other international regions; and the number of loan books, portfolios and individual loans to which the sales related. [3719/13]

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will provide in tabular form, the par value of loans sold by Irish Nationwide Building Society in 2008, 2009, 2010 and 2011; the amount realised by territory for the South of Ireland, the North of Ireland, Britain, USA and other international regions; and the number of loan books, portfolios and individual loans to which the sales related. [3720/13]

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will provide in tabular form, the par value of loans sold by Irish Bank Resolution Corporation in 2011 and 2012; the amount realised by territory for the South of Ireland, the North of Ireland, Britain, USA and other international regions; and the number of loan books, portfolios and individual loans to which the sales related. [3721/13]

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance in tabular form, the par value of loans sold by Bank of Ireland in 2008, 2009, 2010, 2011 and 2012, the amount realised by territory for the South of Ireland, the North of Ireland, Britain, USA and other international regions and the number of loan books; portfolios and individual loans to which the sales related. [3722/13]

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will provide in tabular form, the par value of loans sold by Allied Irish Banks in 2008, 2009, 2010, 2011 and 2012; the amount realised by territory for the South of Ireland, the North of Ireland, Britain, USA and other international regions; and the number of loan books, portfolios and individual loans to which the sales related. [3723/13]

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance in tabular form, the par value of loans sold by the Educational Building Society in 2008, 2009, 2010, 2011 and 2012; the amount realised by territory for the South of Ireland, the North of Ireland, Britain, USA and other international regions; and the number of loan books, portfolios and individual loans to which the sales related. [3724/13]

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will provide in tabular form, the par value of loans sold by Permanent TSB in 2008, 2009, 2010, 2011 and 2012; the amount realised by territory for the South of Ireland, the North of Ireland, Britain, USA and other international regions; and the number of loan books, portfolios and individual loans to which the sales related. [3725/13]

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will provide in tabular form, the par value of loans sold by the National Asset Management Agency in 2010, 2011 and 2012; the original covered bank to have provided the loan; the amount realised by territory for the South of Ireland, the North of Ireland, Britain, USA and other international regions; and the number of loan books, portfolios and individual loans to which the sales related. [3726/13]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 227 to 234, inclusive, together.

The sale of loan portfolios is a commercial matter for the management and the Board of the Institutions. I have a limited role in this function. The sales prices for various portfolios and individual loans are a matter of confidentiality between the parties. It is normal course of practice that sales processes are conducted under appropriate confidentiality constraints in order to protect the interests of all parties.

It is the responsibility of the Board of Directors of each institution to ensure that adequate and appropriate disclosures are provided regarding financial position and performance. Therefore, such disclosures are provided through the financial statements of each institution in the context of the needs of those users and the particular business activities and risk exposures of the Institutions. To this end, the institutions provide detailed disclosures in their Annual Reports, trading statements, interim management reports, press releases and Pillar III regulatory return disclosures. The Institutions have also, where applicable as part of their investor relations programmes and Stock exchange requirements, produced detailed loan sale disclosures to which the deputy may wish to refer.

In particular, as relates to NAMA, the disclosure of additional information other than what is publically available would contravene Section 99 and 202 of the NAMA Act and adversely affect the competitive process and the agency's objective of achieving the best outcome for the taxpayer.

Deleveraging of the Banking system has progressed well. Deleveraging of €53.1bn has been achieved by Allied Irish Banks (AIB), Bank of Ireland (BOI) and Permanent TSB from 31 December 2010 to 30 November 2012. Individual losses on loans have not been disclosed by the banks due to commercial sensitivities and confidentiality of information, however the Pillar Banks where disposals have been concentrated, have disclosed that overall cumulative discounts incurred have been within PCAR assumed discounts. From a capital perspective, the loss incurred on the divestment of these assets is broadly offset by a reduction in the level of risk weighted assets.

The on-going progress in deleveraging and deposit gathering activities has seen BOI make further progress towards improving its Loan to Deposit (LDR) ratio, reducing from 136% at June 2012 to less than 130% in November 2012. Similarly, AIB's LDR reduced to less than 120% at the end of October (including loans held for sale) from 125% at end of June.

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