Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

199. To ask the Minister for Finance the date the Permanent TSB restructuring plan was submitted to the European Commission; when he expects to receive a response; and if he will make a statement on the matter. [39563/13]

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

I can inform the Deputy that the Permanent TSB restructuring plan was submitted to the European Commission (“the Commission”) on 29 June 2012. As requested by the Commission an updated version of the plan was submitted on 15 August 2013. Discussions are ongoing at a technical level involving the Commission, the Department of Finance and Permanent TSB in relation to the updated version of the plan. There is no formal deadline in place for the Commission to respond on the updated version of the plan. However the Deputy may have noted that Permanent TSB, at its interim results presentation on 29 August 2013 stated that it was aiming for approval before year end and I have no reason at this point in time to believe otherwise.

The Deputy may also be aware that AIB is in discussions with the Department of Finance and the Commission in respect of its restructuring plan and currently expects approval of the plan during the second half of 2013.