Stephen Donnelly (Wicklow, Independent)
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176. To ask the Minister for Finance the assets being offered for sale by Permanent TSB, PTSB; and if he will make a statement on the matter. [37997/14]

Michael Noonan (Limerick City, Fine Gael)
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Permanent TSB ("PTSB") confirmed that there were €680 million of loans 'Held for Sale' as at 30 June 2014, comprising of the Springboard Mortgages loan book and a tranche of CHL. The information is available on page 14 of their interim results presentation (). PTSB subsequently announced the sale of the CHL tranche on the 26th September last.

I would also like to highlight to the Deputy that the wind-down and/or sale of its non-core loan books is an integral part of the PTSB's Capital and Liquidity Plan and further sales may occur over time.

Under Clause 11 of the Relationship Framework, PTSB would be obliged to consult with me prior to a disposal, outside the ordinary course of business, of a loan/loans for an amount in excess of €50 million.  In the Relationship Framework it is recognised that PTSB remains a separate economic unit with independent powers of decision and that its Board and management team retain responsibility and authority for determining PTSB's strategy and commercial policies and conducting its day-to-day operations. The consultation would carefully assess, at that particular  point in time, the matter based on the facts and in particular the impact on PTSB's profit, capital and funding.