Vol. 548 No. 5
188 Mr. Callely asked the Minister for Finance the impact of recent and evolving developments in the financial, and especially the banking markets, following the losses of a bank (details supplied); and if he will make a statement on the matter. [5504/02]
I take it the focus of the Deputy's concern is the impact of the fall in share values of the bank in question, and of the general financial status of the bank. The shares of this bank form a significant portion of the Irish equity market. It is inevitable that the initial fall in its share price had an adverse effect on the index of Irish share values. However, I understand that the bank's share price has since recovered much of its initial fall. I am advised that the bank's capital position is strong and is comfortably within established limits. There is no threat to account holders or to the solvency of the bank. Financial institutions and fund managers operate risk management policies which ensure that exposure to unexpected events such as this are minimised.
