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Cypriot Financial System

Dáil Éireann Debate, Tuesday - 26 March 2013

Tuesday, 26 March 2013

Questions (218, 219, 220)

Pearse Doherty

Question:

218. Deputy Pearse Doherty asked the Minister for Finance if he will provide an assessment of the exposure of Irish households and businesses to the Cypriot financial system; and if he will make a statement on the matter. [15179/13]

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Pearse Doherty

Question:

219. Deputy Pearse Doherty asked the Minister for Finance if he will confirm the exposure of Irish banks including the Central Bank of Ireland to Cypriot sovereign bonds; and if he will make a statement on the matter. [15180/13]

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Pearse Doherty

Question:

220. Deputy Pearse Doherty asked the Minister for Finance if he will confirm the exposure of the European Central Bank to the Cypriot financial system; and if he will provide an assessment of the contribution of this State to any losses incurred by the ECB on its exposure; and if he will make a statement on the matter. [15181/13]

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Written answers

I propose to take Questions Nos. 218 to 220, inclusive, together.

I am informed by the Central Bank of Ireland that the exposure of the covered banks to Cypriot sovereign bonds is zero.

I have no information on the exposure of Irish households to Cypriot sovereign bonds and businesses to the Cypriot financial system.

The Central Bank does not disclose details of specific exposures within its own investment portfolio. The Central Bank does not comment on the investment holdings of the ECB.

I would draw the Deputy’s attention to the European Central Bank notice on 21 February 2013 whereby details on securities holdings acquired under its Securities Markets Programme were published.

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