Dáil Éireann Debate, Wednesday - 13 January 2016
223. Deputy Michael McGrath asked the Minister for Finance the fees received under the credit institutions (financial support) scheme and the eligible liabilities guarantee scheme in each year since their inception, in tabular form; and if he will make a statement on the matter. [1069/16]
View answerThe ELG Scheme closed for new liabilities at midnight on 28 March 2013. Eligible liabilities covered under the Scheme which were incurred up to midnight on 28 March 2013 continue to be covered up to their maturity date which could be up to 5 years maximum from the date the liability was incurred. This means that covered liabilities will wind down over the period from midnight on 28 March 2013 until 28 March 2018 at the latest.
Fees paid by the covered institutions in respect of the ELG Scheme guarantee are paid quarterly in arrears and therefore there is a time lag before the fees are paid into the Exchequer (i.e. fees received as cash in Q1 of 2014 are in respect of fees accrued for Q4 of 2013). The figures below are presented on an accruals basis.
The total fees received to Q3 2015 from the covered banks in respect of both the CIFS and ELG Schemes amount in total to €4.4bn which does not include interest accrued. This amount comprises €758.4m in respect of CIFS and €3,660.25m to Q3 2015 in respect of the ELG Scheme, as shown in the tables below.
CIFS Scheme fees paid to date by Covered Institutions
|
€millions |
IL&P |
BoI |
AIB |
Anglo |
EBS |
INBS |
Postbank |
Total |
|
2008 |
- |
32.3 |
- |
37.9 |
- |
- |
0.004 |
70.20 |
|
2009 |
35.4 |
138.1 |
174.7 |
94.8 |
9.7 |
23.8 |
0.020 |
476.52 |
|
2010 |
14.8 |
68.3 |
58.3 |
54.9 |
5.9 |
8.8 |
0.015 |
211.01 |
|
2011 |
- |
- |
- |
0.7 |
- |
- |
- |
.70 |
|
Total |
50.2 |
238.7 |
233.0 |
188.3 |
15.6 |
32.6 |
0.039 |
758.43 |
ELG fees paid to Q3 2015 by Participating Institutions
|
€millions |
IL&P |
BoI |
AIB |
IBRC |
EBS |
Total |
|
2010 |
95.9 |
275.5 |
299.3 |
149.9 |
34.2 |
854.8 |
|
2011 |
172.9 |
448.7 |
464.9 |
85.5 |
62.6 |
1234.6 |
|
2012 |
165.2 |
375.4 |
332 |
23.9 |
54.7 |
951.2 |
|
2013 |
105.4 |
142.3 |
126.8 |
0 |
46.8 |
421.3 |
|
2014 |
59.4 |
36.8 |
36.1 |
0 |
22.9 |
155.2 |
|
2015* |
11.8 |
7.6 |
13.8 |
0 |
9.9 |
43.15 |
|
Total |
610.6 |
1286.3 |
1272.9 |
259.3 |
231.1 |
3660.25 |
*The 2015 figures pertain to Q1, Q2 and Q3 fees only
