Michael McGrath (Cork South Central, Fianna Fail)
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82. To ask the Minister for Finance the amount of money held by the then Central Bank and Financial Services Authority of Ireland at 30 September 2008 in respect of the deposit guarantee scheme for banks and building societies; and to specify the amount currently being held by the Central Bank of Ireland in respect of the same scheme. [32532/13]

Michael Noonan (Limerick City, Fine Gael)
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The Deposit Guarantee Scheme (DGS) protects depositors in the event of a bank, building society or credit union authorised by the Central Bank of Ireland being unable to repay deposits. Deposits up to €100,000 per person per institution are protected. The DGS is administered by the Central Bank of Ireland and is funded by the credit institutions covered by the scheme. Each deposit-holding institution is required to maintain a balance on their Deposit Protection Account of 0.2% of their total deposits. This percentage is calculated annually in December.

The balance in the Deposit Protection Account at 30th September 2008 was €526,093,100.00. The current balance is €377,335,017.55. The decline in the Deposit Protection Account balance primarily reflects the drop in deposits in Irish credit institutions between 2008 and 2013.