Dáil Éireann Debate, Wednesday - 6 March 2013
75. Deputy Patrick Nulty asked the Minister for Finance the conditions under which the Central Bank of Ireland would need to accelerate the sale of the Anglo Irish/Irish Bank Resolution Corporation bonds into the market in view of the fact that all the benefits hinge on the release of these bonds. [11830/13]
View answerI am advised that the Central Bank of Ireland will sell the bonds but only where such a sale is not disruptive to financial stability. The Central Bank have undertaken that a minimum of bonds will be sold in accordance with the following schedule: €0.5bn by the end of 2014, €0.5bn per annum from 2015 to 2018, €1bn per annum from 2019 to 2023 and €2bn per annum from 2024 onwards. The Central Bank of Ireland is responsible for financial stability considerations. I would expect the Central Bank to take full account of the health of the domestic and international banking system, the global economic situation and developments in markets when considering financial stability considerations in relation to the disposal of these Irish government bonds.
