Michael McGrath (Cork South Central, Fianna Fail)
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98. To ask the Minister for Finance the amount of covered deposits in the Irish banking system at the end of September 2008 under the deposit guarantee scheme; and if he will provide a breakdown by institution if possible. [9852/15]

Michael Noonan (Limerick City, Fine Gael)
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The Central Bank has advised that they were not in a position to collect data in relation to covered deposits in 2008. The basis for determining the appropriate deposit that a credit institution should hold in the deposit protection account (for the purposes of the DGS) at that time was total deposits of a bank rather than covered deposits.

The Central Bank has informed me that they collected data  that year from credit institutions relating to total deposits which amounted to approximately €330bn. This total deposits figure includes a significant amount of deposits not actually covered by the DGS scheme. As such, they advise that the actual amount of covered deposits would have been much lower than total deposits.

Under the new deposit guarantee scheme arrangements which will take effect from 4 July 2015, the basis for calculation of a credit institution's contribution will be a contribution based on covered deposits. Consequently, the Central Bank have data in relation to the amount of covered deposits since 2014.