asked the Minister for Finance if, arising from his reply to Parliamentary Question No. 718 of May 17, he will state (a) the total amount of money which was paid by the Exchequer to rescue depositors of the Irish Trust Bank Ltd. when it went into liquidation; and (b) the balance due to the Exchequer or the Central Bank which would be sufficient to clear the amount advanced.
Written Answers. - Irish Trust Bank.
665.
The information sought by the Deputy is as follows:—
(a) Paid by the Exchequer £1,836,129
(b) (i) Due to the Exchequer £1,588,253
(ii) Due to the Central Bank NIL
(ii) Due to the Central Bank ......... NIL
With regard to the amount of £1,836,129 shown at (a) above, the following points should be noted.
(i) the amount of £1,875,279 indicated in my reply of 17 May 1983 (No. 718 Dáil Official Report Vol. 342, column 1331) as having been paid by the Exchequer represents the gross amount due from the Exchequer in respect of the proved claims of depositors of Irish Trust Bank when it went into liquidation;
(ii) from this sum there falls to be deducted a sum of £39,150 in respect of moneys due by some customers to Irish Trust Bank, which the Liquidator was authorised by the Court to set-off against their deposits;
(iii) the actual Exchequer outlay, therefore, was £1,836,129;
(iv) the amount shown in the Appropriation Accounts under the heading "Recoupment to the Central Bank of Ireland of Payments to the Liquidator of the Irish Trust Bank, Ltd.," is £1,843,611. This falls to be reduced by an overpayment of £7,482 to give the net Exchequer outlay of £1,836,129. The figure of £7,482 is included under the heading "Miscellaneous Expenses" in Account No. XI (Miscellaneous Revenue) in the Finance Accounts for the year 1980.