asked the Minister for Finance the reason for the increase in the external assets of the Savings Bank Fund from £11.4 million at 31st December, 1958, to £16.1 million at 31st December, 1959.
Ceisteanna—Questions. Oral Answers. - Savings Bank Fund: Increase in External Assets.
3.
The main reason for the increase referred to by the Deputy is that for a short period after the flotation of the National Loan last November part of the proceeds was not required for Exchequer purposes and consequently was invested temporarily in external securities. Since 31st December last these additional external securities have been realised and the proceeds used to finance public capital expenditure.