Michael McGrath (Cork South Central, Fianna Fail)
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70. To ask the Minister for Finance if he will provide for each financial institution, the amount of losses imposed on subordinated/junior bondholders since the banking crisis of 2008 by the previous Government and, separately, by the present Government; and if he will make a statement on the matter. [47621/14]

Michael Noonan (Limerick City, Fine Gael)
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In  the period since 2008, significant burden-sharing has been achieved through Liability Management Exercise (LME) transactions completed by the Covered Banks. The purpose of the LMEs was to create additional core tier 1 capital and to strength en the quality of the capital base of the Banks.

Prior to the Central Bank's PCAR, burden sharing with subordinated bondholders raised c. €10 billion of capital gains across the Covered Institutions.  In the period since this Government came into power, burden sharing with subordinated bondholders has realised an additional c. €5.2 billion greatly reducing the cost of recapitalising the banks and bringing the total to more than €15 billion.

The table below sets out the amount of capital raised by the Covered Banks via LME's since the banking crisis began.