Written answers

Thursday, 19 December 2013

Department of Finance

Banking Sector Issues

Photo of Kevin HumphreysKevin Humphreys (Dublin South East, Labour)
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85. To ask the Minister for Finance if he will direct the majority State-owned banks of AIB and Permanent TSB to publish the results of the Central Bank balance sheet assessments; the amount it was recommended that they make provisions for without delay; and if he will make a statement on the matter. [54881/13]

Photo of Kevin HumphreysKevin Humphreys (Dublin South East, Labour)
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86. To ask the Minister for Finance the reason the majority State-owned banks of AIB and Permanent TSB have not published the results of the Central Bank balance sheet assessments; and if he will make a statement on the matter. [54882/13]

Photo of Kevin HumphreysKevin Humphreys (Dublin South East, Labour)
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87. To ask the Minister for Finance the amount the Central Bank estimated was the required amount of extra provisioning that AIB had to make following the balance sheet assessment; if he will provide a breakdown of where in the loan book these new loan losses arose; and if he will make a statement on the matter. [54883/13]

Photo of Kevin HumphreysKevin Humphreys (Dublin South East, Labour)
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88. To ask the Minister for Finance the amount the Central Bank estimated was the required amount of extra provisioning that Permanent TSB had to make following the balance sheet assessment; if he will provide a breakdown of where in the loan book these new loan losses arose; and if he will make a statement on the matter. [54884/13]

Photo of Michael NoonanMichael Noonan (Minister, Department of Finance; Limerick City, Fine Gael)
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I propose to take Questions Nos. 85 to 88, inclusive, together.

As I stated in response to questions 52473/13 and 52474/13 I have seen the results of the Balance Sheet Assessment ("BSA") as they were a commitment under our Funding Programme and, as with all other such commitments, my Department communicated them to the Troika by the appointed deadline. The results are very technical in nature and I am under a legal obligation to keep the details confidential.

Since the BSA is seen as part of the ECB’s Comprehensive Assessment ("the Assessment"), with the findings being included in the Assessment, the results of the BSA are not being published separately. The interpretation of the results is a matter for the Central Bank, but I am pleased that the Governor has informed me that there will not be an additional regulatory capital requirement in the banks as a result of this process.

It is a matter for the banks to decide regarding the publication of their individual results and I would refer the Deputy to the statements made by the individual banks. I am advised by AIB and Permanent TSB that they will consider the findings of the BSA in the preparation of their year-end December 2013 financial statements.

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