Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will confirm the proportion of the €25bn of sovereign bonds used to swap with the Irish Bank Resolution Corporation for its €27.7bn of promissory notes, that are directly held by the Central Bank of Ireland. [14904/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will set out, in tabular form, by country the holdings of €25bn of sovereign bonds used to swap with the Irish Bank Resolution Corporation for its €27.7bn of promissory notes. [14905/13]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 196 and 197 together.

I have been advised that the Central Bank of Ireland received €25bn of marketable sovereign bonds in lieu of the Promissory Notes. The Central Bank will hold the sovereign bonds in its trading portfolio and will sell them over time. The timing of bond sales set out is a minimum schedule and can be accelerated as market conditions allow. I have been informed that the schedule set out means the Central Bank will sell the €25bn of bonds in various tranches:

- 2013 – no sale

- 2014- €0.5bn

- 2015-2018 – €0.5bn annually

- 2019-2023 – €1bn annually

- 2024-end – €2bn annually.