Local Authority Finances

Dáil Éireann Debate, Tuesday - 27 May 2014

Tuesday, 27 May 2014

Questions (537)

Michael McGrath

Question:

537. Deputy Michael McGrath asked the Minister for the Environment, Community and Local Government if his Department has issued any policy direction to local authorities regarding the holding of local authority funds in accounts at the pillar banks in view of the current ratings of these banks; and if he will make a statement on the matter. [22546/14]

Written answers

Minister for the Environment, Community and Local Government

Banking and investment arrangements with financial institutions for the prudent management of funds are a matter for individual local authorities under section 98 of the Local Government Act 2001.