asked the Minister for Finance the rate of interest at present paid on Central Bank funds in Britain and the total interest paid on them in each of the past five years.
22.
Ceisteanna—Questions. Oral Answers. - Central Bank Funds.
21.
asked the Minister for Finance the total amount of Central Bank funds held in countries other than Britain, with details of investments in each country and the rate of interest in each case.
I propose with your permission, a Cheann Comhairle, to take Questions Nos. 21 and 22 together.
I am informed by the Central Bank that it is not practicable to give particulars in the form requested in these questions. The bank has supplied me, however, with figures for the amounts of Central Bank funds invested in Britain and other countries as at 27th November, 1968, and as at 31st March in each of the past five years as well as the total external income for these funds in each year.
As this information is in the form of a tabular statement, I propose, with your permission, a Cheann Comhairle, to circulate it with the Official Report.
Following is the Statement:—
FUNDS of the Central Bank invested abroad and total income for each of the financial years 1963-64 to 1967-68
(£ million)
|
Year ended 31st March |
Funds invested in: |
Total interest from funds invested abroad |
|
|
Great Britain |
Other Countries |
||
|
1964 |
110.4 |
15.4 |
4.61 |
|
1965 |
131.4 |
15.9 |
6.67 |
|
1966 |
133.0 |
15.3 |
6.74 |
|
1967 |
148.8 |
16.0 |
8.32 |
|
1968 |
131.9 |
15.1 |
8.66 |
|
1968 |
|||
|
(28th November) |
98.2 |
26.5 |
23.
asked the Minister for Finance if the Government will consider alternative sources of investment for the £98.2 million Central Bank funds invested in Britain.
24.
asked the Minister for Finance the reason for the investment of £98.2 million Central Bank funds in Britain.
I propose, with your permission, a Cheann Comhairle, to take Questions Nos. 23 and 24 together.
In accordance with the provisions of the Currency and Central Bank Acts, the employment of the funds in the custody of the Central Bank is a matter for the bank.