Written Answers. - Licences for Foreign Banks.

Tony Gregory

Question:

84 Mr. Gregory asked the Minister for Finance if foreign banks trading here through automatic teller machines owned by Irish banks are required to have banking licences from the Central Bank; if he will list all such banks together with their place of business in Ireland; if he will outline whether they are taxed in the same manner as an Irish bank; and if he will make a statement on the matter.

A banking licence is required only in the case of deposit-taking activities.

I am informed by the Central Bank that the service provided by foreign banks through the automatic teller machines of Irish banks is confined to cash withdrawal facilities only. Several non-Irish banks have agreements with Irish banks to allow their customers to use ATMs in Ireland. These are private contractual arrangements in which I have no function.

Only banks licensed in Ireland would come within the ambit of the Taxes Acts.