Catherine Murphy (Kildare North, Social Democrats)
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55. To ask the Minister for Finance the details of the 2010 facility deed between a bank (details supplied) and the Central Bank, which was guaranteed by his Department; and if he will make a statement on the matter. [10008/17]

Michael Noonan (Limerick City, Fine Gael)
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The Bank of Ireland annual report for year ended 2010 provided the following details in relation to the facility deed:

On 23 December 2010, the Bank entered into a facility deed (the deed) with the Central Bank. This provides for an uncommitted facility to the Group, guaranteed by the Minister for Finance up to a maximum amount of €10 billion or such increased amount as the Central Bank may, in its absolute discretion determine. Its initial term was one month from the date of execution, which has been extended for a further three month period to 23 April 2011. In entering into the deed, the Bank entered into a counter indemnity agreement with the Minister for Finance. This agreement, dated 23 December 2010, indemnifies the Minister for Finance in respect of any payments made by him under the guarantee in favour of the Central Bank in respect of any indebtedness under the deed. It is co-terminous with payment of interest and prepayment of principal in full under the deed.

In relation to the expiry of the facility, the following details were provided in the bank's annual report for year ended 2012:

On 23 December 2010, the Bank entered into a facility deed (the deed) with the Central Bank, providing for an uncommitted facility to the Group, guaranteed by the Minister for Finance. In entering into the deed, the Bank also entered into a counter indemnity agreement with the Minister for Finance. At 31 December 2011, the amount of the facility was €10 billion which was subsequently reduced to €5 billion on 23 January 2012. This facility expired on 30 June 2012 and the indemnity was released.  

The Bank of Ireland annual reports for both 2010 and 2012 can be found on the bank's website.