Michael McGrath (Cork South Central, Fianna Fail)
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94. To ask the Minister for Finance the amount of contingent convertible capital notes and preference shares that he holds in the covered banks; when he acquired these; the interest payable on each security; their maturity dates; his plans for these investments; and if he will make a statement on the matter. [16502/16]

Michael Noonan (Limerick City, Fine Gael)
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The only remaining Contingent Capital Note, or 'CoCo', was issued by the State to AIB in July 2011.  The AIB CoCo is scheduled to mature in July 2016 at which point the State will receive its final interest payment of €160 million, and a return of the full €1.6 billion of capital in cash.

The State no longer owns Preference Shares in any of the Irish banks. The elimination of these legacy instruments has been facilitated by the recovery in bank profitability and reflects a desire to rebuild balance sheets that are both strong and fully compliant with new and tougher regulatory requirements.