asked the Minister for Finance the total amount of central bank funds held in Britain; and how they are invested.
Ceisteanna—Questions. Oral Answers. - Central Bank Funds in Britain.
10.
The amount of Central Bank funds held in Great Britain on 27 November, 1968, was £98.2 million. These funds are invested in British Treasury Bills and British Government securities.
At what rate of interest?
I suppose the best.
I asked for details of how these funds were invested and that question would imply the rate of interest. It might cover the question of imports.
If the Deputy wants that information why does he not ask that question?
The Taoiseach is like the Minister for Local Government now. He is, as a rule, far nicer.
Deputy O'Connell has a habit of asking questions and then asking supplementaries unrelated to the information for which he asked originally.
Is it the Government's intention to repatriate some of these funds in order to pay the deposit which must now be made against Irish exports to Britain in order not to deplete funds in hands in the commercial banks and avoid a credit squeeze which might hit ordinary traders?
That was Deputy Dr. O'Connell's supplementary question.
It has been made perfectly clear that the funds here of the commercial banks will not be affected.
By the debt of £25 million?
Yes.