Housing Finance Agency Funding

Dáil Éireann Debate, Thursday - 13 June 2013

Thursday, 13 June 2013

Questions (114)

Catherine Murphy

Question:

114. Deputy Catherine Murphy asked the Minister for the Environment, Community and Local Government the sums invested in the Housing Finance Agency by each local authority for each of the past five years; and if he will make a statement on the matter. [28506/13]

Written answers

Minister of State at the Department of the Environment, Community and Local Government (Deputy Jan O'Sullivan)

Local authorities do not provide funding to or invest in the Housing Finance Agency. The Agency advances funds to local authorities to be used by them for any purpose authorised under the Housing Acts and it finances its operations by borrowing or raising funds for these purposes. The HFA also utilises its guaranteed notes programme to provide local authorities with a facility for surplus cash offering competitive interest rates.