asked the Minister for Finance if the Central Bank was aware of any external loans in US dollars given by Irish banks, commercial or otherwise, in the USA in 1971, 1972, 1973; and, if so, if such loans were in accordance with USA laws.
Written Answers . - Dollar External Loans .
137.
: Irish banks which are authorised dealers under the Exchange Control Acts, 1954 to 1974, may relend in foreign currency any amounts deposited with them in foreign currency by persons resident outside the scheduled territories. The Central Bank do not receive details of individual transactions carried out under this authorisation.
It is understood that in transactions of this nature the lending bank would retain its rights under both US and Irish law.