As requested by the Deputy, I can confirm that the following amounts have been received to date from fees relating to deposit guarantee schemes and the disposal of the State's investments in the banks:
- CIFS/ELG - €4.45bn
- Disposal of bank investments -€8.22bn
Proceeds from the disposal of bank investments includes accrued interest/dividend at the date of sale, and is net of €0.23bn from the part-redemption of the AIB preference shares used to settle the remaining balance of the EBS promissory notes.
In addition to these amounts, €1.73bn income has been received to date in the form of coupons on the various bank investments.
The most recent independent valuations of the State's remaining investments in the banks are as follows:
Bank
|
Most recent valuation
|
Source of valuation
|
AIB
Equity
CoCos
|
€12.2bn
€1.6bn
|
ISIF, 31 December 2015
At par
|
BOI
Equity
|
€0.84bn
|
ISE close, 18th July
|
PTSB
Equity
|
€0.67bn
|
ISE close, 18th July
|
Total
|
€15.31bn
|
|
The most recent valuation for AIB was completed by the ISIF for the NTMA accounts to 31 December 2015 and does not include the impact of factors which, since the start of 2016, have significantly reduced the valuation of European-wide bank stocks. Although AIB is quoted on the ISE, this is not regarded as a reliable indicator of valuation given the very small free float. The AIB CoCos are due for repayment on 28 July when the State will receive total proceeds of €1.76bn including accrued interest of €160m.