Written answers

Tuesday, 26 March 2013

Department of Finance

Cypriot Financial System

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will provide an assessment of the exposure of Irish households and businesses to the Cypriot financial system; and if he will make a statement on the matter. [15179/13]

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will confirm the exposure of Irish banks including the Central Bank of Ireland to Cypriot sovereign bonds; and if he will make a statement on the matter. [15180/13]

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will confirm the exposure of the European Central Bank to the Cypriot financial system; and if he will provide an assessment of the contribution of this State to any losses incurred by the ECB on its exposure; and if he will make a statement on the matter. [15181/13]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 218 to 220, inclusive, together.

I am informed by the Central Bank of Ireland that the exposure of the covered banks to Cypriot sovereign bonds is zero.

I have no information on the exposure of Irish households to Cypriot sovereign bonds and businesses to the Cypriot financial system.

The Central Bank does not disclose details of specific exposures within its own investment portfolio. The Central Bank does not comment on the investment holdings of the ECB.

I would draw the Deputy’s attention to the European Central Bank notice on 21 February 2013 whereby details on securities holdings acquired under its Securities Markets Programme were published.

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