Dáil Éireann Debate, Thursday - 16 July 2015
232. Deputy Joanna Tuffy asked the Minister for Finance if he will provide an update on all levies paid by the banks to the State, following the bank guarantee and recapitalisation, and all funds recouped by the State in respect of the banks concerned, from resales of shares and so on; and if he will make a statement on the matter. [30410/15]
View answerAs requested by the Deputy, I can confirm that total receipts of €12.74bn have been received to date, since the bank guarantee and recapitalisation of the banks, from the disposal of investments, investment income, fees and the bank levy introduced in Budget 2014. The tables provides details in this regard for the benefit of the Deputy:
1) Disposal of investments
|
Date |
Bank |
Transaction |
Proceeds including accrued interest/dividend |
|
April 2010 |
Bank of Ireland |
Cancellation of preference share warrants |
€0.49bn |
|
December 2010 |
AIB |
Cancellation of preference share warrants |
€0.05bn |
|
August 2011 |
Bank of Ireland |
Sale of equity |
€0.24bn |
|
December 2011 |
Bank of Ireland |
Sale of equity |
€0.81bn |
|
January 2013 |
Bank of Ireland |
Sale of convertible capital notes |
€1.06bn |
|
July 2013 |
Permanent TSB |
Sale of Irish Life |
€1.34bn |
|
December 2013 |
Bank of Ireland |
Sale/redemption of preference shares |
€2.05bn |
|
May 2015 |
Permanent TSB |
Buy-back of convertible capital notes |
€0.44bn |
|
May 2015 |
Permanent TSB |
Sale of equity |
€0.10bn |
|
Total proceeds from disposal of investments |
€6.58bn |
2) Income, fees and bank levy
|
Date |
Bank |
Source |
Proceeds |
|
2008 to date |
All relevant banks |
CIFS/ELG* |
€4.41bn |
|
2011 to date |
All relevant banks |
Investment income received Preference shares and convertible capital notes |
€1.62bn |
|
2014 |
State invested banks |
Bank levy Budget 2014** |
€0.13bn |
|
Total investment income, fees and bank levy |
€6.16bn |
*CIFS/ELGS includes €0.5bn from IBRC.
** State invested banks comprise AIB, Bank of Ireland and Permanent TSB. The State collected €153m from all banks subject to the bank levy introduced in Budget 2014.
