Dáil Éireann Debate, Tuesday - 16 April 2013
241. Deputy Pearse Doherty asked the Minister for Finance if he will estimate the additional provision that will need to be made in the accounts of Bank of Ireland; if that bank has to write down the value of non-performing loans to the value of the underlying security; and if he will confirm that such a write-down will result in demands to the State to provide additional capital. [16284/13]
View answerThe Deputy may be aware that the rules relating to the correct level of provisioning are determined by the relevant accounting standards. It is the responsibility of the Bank’s Board of Directors to ensure that these rules, including the correct value of the underlying security for provisioning purposes, have been properly applied and that this is subject to independent external audit review. Nothing has been brought to my attention to suggest the Bank has not applied the rules correctly and accordingly I am not aware of any requirement for the State to provide additional capital.
