Vol. 461 No. 2
23 Mr. J. Walsh asked the Minister for Finance the total value of deposits in Irish-based banks, building societies, post office accounts and other relevant institutions; and the percentage of such accounts which are in the name of non-nationals. [2595/96]
I am informed by the Central Bank of Ireland that at end-1995 total non-Government deposits (excluding any accrued interest payable) at banks and building societies in Ireland (including ICC and ACC Bank and TSB Bank) amounted to £37.2 billion. Deposits of non-residents amounted to £9.9 billion, or some 26.6 per cent. At the same time, deposits with the Post Office Savings Bank, other than Special Savings Accounts, amounted to about £405 million, of which less than 1 per cent are deposits from non-residents. Taking these figures together, there is a total of £37.6 billion in deposits with credit institutions and the POSB, of which non-residents account for around 26 per cent.
The Deputy will be aware that the Government raises funds through small savings products such as savings certificates, savings bonds and national instalment savings. The amount of investment in these products, together with POSB special savings accounts, at the end of 1995, was around £3.05 billion. Since these are either tax free or subject to 15 per cent DIRT, it has not been necessary for An Post to differentiate between holders of these products on the basis of residence.
