Dáil Éireann Debate, Tuesday - 13 November 2012
206. Deputy Pearse Doherty asked the Minister for Finance in respect of the €1.1 billion top-up made by Allied Irish Banks to the group pension scheme in August 2012, if he provided approval for this transaction in a bank in which he owns 99.8% of the shares; and if so, the date of the provision of any such approval. [49492/12]
View answerAIB has confirmed to me that the transfer of €1.1bn (nominal) loan assets to the AIB Defined Benefit Pension Scheme was approved by the AIB Board and the Bank's Deleveraging Committee whose members include the Department of Finance and the Central Bank in observatory capacities. The Deleveraging Committee, of which Department of Finance acts in an observatory capacity only, approved the transaction on 27 March 2012.
