asked the Minister for Finance if he will state the purpose of the recent transfer of £20,000,000 of British Government securities from the Legal Tender Note Fund into the General Reserve; and what securities have replaced the £20,000,000 of British Government securities.
Ceisteanna—Questions. Oral Answers. - Transfer of British Government Securities.
19.
Mr. Ryan
The transfer to which the Deputy refers took place in the ordinary course of business of the Central Bank. I have no function in connection with the matter.
I may add, however, for the Deputy's information, that authority to make transfers of this nature was given by the "Legal Tender Note Fund (Additional Form of Asset) Order, 1961", which added a "Balance in General Fund" to the forms of assets in which the Legal Tender Note Fund may be held.
Mr. Ryan
Are we now to understand that the Minister is disclaiming all responsibility for the reliability of the Irish currency?
Oh, no; not all responsibility.