Billy Timmins
Question:66 Mr. Timmin s asked the Minister for Finance if his Department has had discussions with the financial institutions regarding the number of uncashed bank drafts; and if he will make a statement on the matter. [5599/02]
Written Answers. - Bank Drafts.
The Deputy will recall that last June I undertook to obtain an estimate of the value of outstanding bank drafts once the dormant accounts legislation was up and running.
Officials from my Department are still seeing through implementation of measures required under the Act given that the scheme is due to commence on 31 March. They have made some preliminary inquiries to the credit institutions' representatives in relation to uncashed bank drafts. This information is not readily obtainable because in many institutions records are only retained at branch level. I have asked the institutions to furnish me with the details of the number and value of uncashed bank drafts still extant. I will keep the Deputy informed of developments.