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Dáil Éireann debate -
Wednesday, 22 Oct 1986

Vol. 369 No. 1

Written Answers. - Exchange Rate Risk Guarantees.

270.

asked the Minister for Finance the total amount of money on which the State guarantees the exchange rate risk at the rate prevailing on 31 December 1983, 31 December 1984, 31 December 1985, and for the most recent date for which these figures are available; if he will aggregate these figures into the following categories: (a) the private corporate sector; (b) the agricultural sector; and (c) others; and the total cost to the State of exchange rate guarantees by sector for each of the years 1983, 1984, 1985 and 1986 to date.

The following is the information requested:

(A) Total amount of which the State guarantees the exchange risk:

Amount outstanding at exchange rates

(a) Private Corporate Sector

(b)Agriculture

(c)Others

Total

£m.

£m.

£m.

£m.

— on 31 December 1983

250.106

236.900

21.509

508.515

— on 31 December 1984

239.793

232.230

21.283

493.306

— on 31 December 1985

213.314

172.940

386.254

— on 30 September 1986

221.138

205.270

426.408

(Most recent date)

(B) Total cost to State of exchange rate guarantees: (excluding unrealised exchange losses)

(a) Private Corporate Sector

(b)Agriculture

(c)Others

Total

£m.

£m.

£m.

£m.

1983:

Exchequer expenditure

4.555

4.230

8.785

Exchequer receipts

1.723

2.035

0.258

4.016

Net cost/(gain)

2.832

2.195

(0.258)

4.769

1984:

Exchequer expenditure

6.366

5.477

11.843

Exchequer receipts

2.120

2.503

0.281

4.904

Net cost/(gain)

4.246

2.974

(0.281)

6.939

1985:

Exchequer expenditure

9.915

15.195

1.456

26.566

Exchequer receipts

1.131

2.460

0.133

3.724

Net cost/(gain)

8.784

12.735

1.323

22.842

1986: (to 30 September)

Exchequer expenditure

3.799

2.710

6.509

Exchequer receipts

0.660

1.834

2.494

Net cost/(gain)

3.139

0.876

4.015

The receipts indicated in the above table are in respect of exchange risk premia paid by borrowers under the various exchange risk schemes.

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