Banking Sector Remuneration

Dáil Éireann Debate, Thursday - 22 November 2012

Thursday, 22 November 2012

Questions (72)

Pearse Doherty

Question:

72. Deputy Pearse Doherty asked the Minister for Finance if he will provide in tabular form the total number of employees at each of the covered banking institutions and the National Asset Management Agency and the National Treasury Management Agency that received pay increases of more than €25,000 per year, more than €50,000 per year, more than €100,000 per year, more than €150,000 per year, more than €200,000 per year and more than €300,000 per year in 2009, 2010, 2011 and 2012. [52103/12]

Written answers

Minister for Finance

As the Deputy will be aware officials in my Department and Mercer have been working on a remuneration review of the Covered Banks and do not currently have the information you have requested. My officials and the banks have provided a very significant level of detail on remuneration and pensions in the Covered Banks and other institutions in tight timeframes. We have received over 50 parliamentary questions on these topics alone in the past two weeks. The further more detailed information sought in this question is not available to my Department at the present time and the compilation of this information, particularly the historic element, is likely to delay completion of the Mercer Remuneration Report which is a Government priority. I have committed to publishing the details underpinning the review in view of the public interest in the matter. The report will provide a comprehensive and professional analysis of remuneration structures and levels across the Covered Banks both now and before the onset of the banking crisis. As part of the review process I will ask my officials to engage with the banks to agree an appropriate level of public disclosure relating to remuneration that ensures an appropriate balance between the public good and the commercial and data protection issues which arise for the Covered Banks.

The NTMA publishes information on salaries by salary band in its annual report. As required by the Code of Practice for the Governance of State Bodies, remuneration details of the Chief Executives of the NTMA, NAMA and NDFA are published in the financial statements of the relevant body. My officials will engage with the NTMA to determine if current arrangements with regard to disclosure of remuneration levels remain appropriate.