Terence Flanagan (Dublin North East, Fine Gael)
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To ask the Minister for Finance the amount of the €24bn of taxpayers' funds used to assist the banks with over indebted customers that has subsequently been used to date to assist mortgage-holders in each institution; and if he will make a statement on the matter. [13825/13]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy will be aware that all banks are required to maintain certain levels of regulatory capital to the satisfaction of the Central Bank. As part of their ongoing prudential work, banks and the Central Bank monitor the level of capital and if a deficiency is identified, or if one could reasonably arise, the regulated bank will have to take action to address such a potential or actual shortfall. As part of its overall support for the Irish banking system, the State has provided a very significant amount of capital support to the covered banks with the most recent capital injection arising from the March 2011 Central Bank PCAR assessment of the covered banks. That capital assessment was based on certain macro economic and loan loss assumptions on all parts of the loan books of the covered banks, including mortgages. The capital provided to the covered banks allowed them to meet their regulatory capital requirements having regard to aggregate actual and protected loan losses and other costs and also, in respect of the continuing banks, to enable them to continue to operate as banks. The Central Bank has clearly stated that banks now have a substantial capital buffer with which to absorb losses on their mortgage portfolios and, as evidenced by the Central Bank statement last week on performance targets, the State authorities now require determined action by banks to systemically work through their mortgage book and to offer appropriate durable solutions to mortgage holders in arrears.

However, under the Relationship Frameworks put in place with the covered banks, the Boards of these institution, in the exercise of their fiduciary responsibilities, are responsible for the day to day operations of the banks including decisions on the commercial management and resolution, where appropriate, of individual loans and they are required to report, in line with prudential and accounting requirements, on the provisioning position of all individual loans in their interim and annual accounts. As Minister, I have no directive role or involvement in such decisions.