asked the Minister for Finance if he will state the average rate of interest received on British Government securities held by (a) Departmental funds and (b) the Central Bank for the year ended 31st December, 1959, or to the nearest reporting date.
Ceisteanna—Questions. Oral Answers. - British Government Securities: Interest on Holdings by Departmental Funds and Central Bank.
10.
Mr. Ryan
The average rate of interest received for the year ended 31st December, 1959, on British Government securities held by Departmental Funds under my control was £3 17s. 6d. per cent.
The Accounts of the Central Bank, as furnished to me under the Currency Act, 1927, as adapted by the Central Bank Act, 1942, and presented to the Dáil, do not show separately the interest received on the British Government securities held by the Bank. The Accounts for the year ended 31st March, 1959, show the dividends and interest on the assets of the Legal Tender Note Fund at £2.65 million. The assets of that Fund amounted to £77.08 million and £76.76 million respectively at the beginning and end of the year 1958/59. Of these assets £63.25 million and £62.98 million respectively were invested in British Government securities.