Dáil Éireann Debate, Thursday - 13 October 2011
51 Deputy Michael McGrath asked the Minister for Finance if the European Central Bank has indicated to him, either formally or informally, that the ECB would, under certain circumstances including the non-repayment of unguaranteed senior bonds by the covered institutions, no longer make the liquidity funding support available to Irish banks; and if he will make a statement on the matter. [29348/11]
View answerIrish credit institutions access ECB liquidity under the same rules and subject to the same conditions as credit institutions around Europe, and it has not been suggested to me that this situation would change. Clearly the ECB has given very large amounts of liquidity assistance to Irish banks and it maintains a keen interest in the Irish banking sector. In this regard, I would point to the statement of the ECB on 31 March last to the effect that against the background of the recapitalisation of the banks "the Eurosystem will continue to provide liquidity to banks in Ireland". Together with other decisions announced on this date, the ECB was and is clear about its support for Irish banks, and I am not aware of anything to suggest otherwise.
