Dáil Éireann Debate, Tuesday - 2 February 2016
189. Deputy Michael McGrath asked the Minister for Finance the level of sale, in tabular form, of Irish Government bonds, held by the Central Bank of Ireland as a result of the promissory note deal, in each of the years 2013 to 2015, inclusive; how this compares with the minimum schedule of sales as published at the time; and if he will make a statement on the matter. [4451/16]
View answerSubsequent to the liquidation of IBRC the Central Bank acquired €25bn of Floating Rate Notes (FRNs) and €3.46bn of Government Fixed Coupon 2025 Government bonds. The Central Bank indicated a minimum disposal schedule of €0.5 billion up to the end of 2014, €0.5 billion per annum 2015 to 2018, €1 billion per annum 2019 to 2023 and €2 billion per annum after that until all the bonds are sold. However, the Bank also stated that it would dispose of the government bonds as soon as possible, provided conditions of financial stability permit. This position remains unchanged. Due to improved financial stability conditions, the disposals of fixed and floating rate government bonds from the Special Portfolio have been faster than the minimum.
|
EUR millions |
2013/2014 |
2015 |
|
Minimum Sales Schedule |
500* |
500 |
|
Sales of Irish government bonds |
3,100** |
2,861 |
|
Difference |
2,600 |
2,361 |
*The applicable minimum schedule spanned from the date of liquidation in 2013 until the end of 2014.
**€350mn of Irish government bonds were disposed of in 2013.
