Finian McGrath (Dublin North Central, Independent)
Link to this: Individually | In context | Oireachtas source

223. To ask the Minister for Finance his views on correspondence (details supplied) regarding allegations of fraud by a financial institution. [38127/13]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

Notwithstanding the fact that the State is a minority shareholder in Bank of Ireland, I must ensure the banks are run on a commercial, cost-effective and independent basis to ensure the value of the banks as an asset to the State, as per the Memorandum on Economic and Financial Policies agreed with the EU Commission, the ECB and the IMF. A Relationship Framework has been specified that defines the nature of the relationship between the Minister for Finance and each bank. These Frameworks were published on 30 March 2012 and can be found at . Due to customer confidentiality, Bank of Ireland does not discuss details of the individual circumstances of any customer or transaction. Moreover, there are robust processes in place to deal with matters such as those outlined. The issues are outside my remit and should be referred to the State institution with authority in this area, the Financial Services Ombudsman. He will be able to advise on procedures to be followed.