Written answers

Tuesday, 16 December 2014

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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230. To ask the Minister for Finance the amount of Irish Government bonds held by the European Central Bank under its securities markets programme and other market interventions; his views on the distribution of profits from the maturity-sale of these bonds; and if he will make a statement on the matter. [48325/14]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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In a press release from February of this year to mark the release of its Annual Accounts for 2013, the ECB announced that its nominal holding of Irish Government bonds under the Securities Market Programme (SMP) was €9.7 billion at end-2013.

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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231. To ask the Minister for Finance in view of the Central Bank statistical release - holders of Irish Government Bonds, 10 December 2014, of the €48 billion of Irish Government bonds held by credit institutions and the Central Bank of Ireland, the proportion of these that are held by the Central Bank of Ireland; and if he will make a statement on the matter. [48326/14]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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The Central Bank has advised that it is an independent entity and that it does not report on its individual investment holdings. It does report, however, on an annual basis only, on its holdings of Government bonds in its Special Portfolio, that being the portfolio of assets acquired after the resolution of IBRC and the exchange of government bonds for the promissory note held by the Bank for collateral purposes at that time. The Bank's Annual Report for 2014 will document its end-year position in this regard and is scheduled for publication in April 2015.

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