Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance in relation to Irish Bank Resolution Corporation, the par value, impairment provision and book value of loans at 31 December 2012, 31 January 2013 and 6 February, 2013. [9745/13]

Michael Noonan (Limerick City, Fine Gael)
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I am advised that the information requested is commercially sensitive and it would not be appropriate for the special liquidator to release information outside of that already published in IBRC’s Accounts. Detailed information in relation to the Bank’s financial performance, including information on provisioning, is published in the Bank’s interim report and annual report and accounts. The most recent information can be found in the Bank’s Interim Report 2012, page 72. It is Bank policy not to publish any additional confidential commercially sensitive financial information which could potentially have a detrimental impact on asset recovery in the impending sale process.

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance further to Parliamentary Question No. 60 of 13 February 2013, the reason only €123m of €323m of deposits in Irish Bank Resolution Corporation on 31 January 2013 are at risk of loss. [9746/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance further to Parliamentary Question 60 of 13 February 2013, if he will outline the types of deposit that comprise the €123m of deposits that are at risk of loss, and if any Irish credit unions are amongst the depositors whose deposits are at risk. [9747/13]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 188 and 189 together.

I have been advised that the previous PQ No. 60 of 13 February 2013 does not refer to only €123m of €323m of deposits being at risk of loss. It refers to €123m as being the estimated level of deposits eligible under Deposit Guarantee Scheme (DGS). The remaining deposits are considered as ineligible under DGS; a portion of these deposits will be covered by the Eligible Liabilities Guarantee (ELG) Scheme. As payments under the ELG Scheme are on the basis of claims submitted to the NTMA as operators of the Scheme it is too early for me to confirm how much will eventually be paid out under the Scheme as a result of the liquidation.

In relation to Irish Credit Unions, I am advised by the Central Bank of Ireland that certain tracker bonds sold to Credit Unions which were liabilities of IBRC at the time of the liquidation have a structured deposit element which is covered by the Deposit Guarantee Scheme but fall outside the eligibility criteria for the ELG Scheme due to the nature of the investment product concerned. Unfortunately, if a deposit is not eligible under the ELG scheme the depositor will rank as an unsecured creditor in the liquidation. I am advised that this may impact a small number of Credit Unions.

The individual Credit Unions affected and the Irish League of Credit Unions have been in contact with the Special Liquidator in relation to this matter. It should be noted that the Government has already provided €500 million of taxpayers’ money to support the stability of credit unions through resolution and restructuring. In addition, the Credit Union movement has its own stabilisation fund.