Dáil Éireann Debate, Tuesday - 20 March 2018
1. Deputy Pearse Doherty asked the Taoiseach and Minister for Defence the cost to his Department of negative interest rates on deposits held; the details of same for agencies under his aegis; and if he will make a statement on the matter. [11734/18]
View answerMy Department operates a small number of bank accounts, in order to process payments for goods and services, for processing payrolls and for the receipt of funds due to the Department. In accordance with public financial procedures, the amounts maintained in these accounts are kept to a minimum. During 2017, the cost of negative interest rates in respect of these bank accounts was €7,189.
The Army Pensions Board, which is under the aegis of the Department of Defence, does not operate a bank account.
