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Government Bonds

Dáil Éireann Debate, Tuesday - 12 June 2018

Tuesday, 12 June 2018

Questions (252, 253)

Michael McGrath

Question:

252. Deputy Michael McGrath asked the Minister for Finance the value of assets purchased each year from Irish financial institutions by either the Central Bank or other eurozone central banks, including the European Central Bank, as part of the Eurppean Central Bank, ECB, asset purchase programme; the value of those assets that were Irish Government bonds; the value of Irish Government bonds held by the Central Bank or other eurozone central banks as part of the ECB asset purchase programme; and if he will make a statement on the matter. [25713/18]

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Michael McGrath

Question:

253. Deputy Michael McGrath asked the Minister for Finance the value of Irish bank bonds purchased each year by the Central Bank or other eurozone central banks, including the European Central Bank, ECB, as part of the ECB's asset purchase programme; the value of those Irish bank bonds held on the balance sheets of the Central Bank and other eurozone central banks as part of the ECB's asset purchase programme; and if he will make a statement on the matter. [25714/18]

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Written answers

I propose to take Questions Nos. 252 and 253 together.

Data on asset purchases from Irish financial institutions as part of the ECB Asset Purchase Programme (APP) is not available publicly.

The market value of Irish government bonds held on the Central Bank of Ireland balance sheet at the end of 2017 was €21,813 million (Source: Central Bank Annual Report 2017, p.193, available: https://www.centralbank.ie/publication/corporate-reports/annual-reports)

The ECB has also purchased Irish government bonds as part of Asset Purchase Programme but data on its holdings of Irish government bonds is not publicly available.

Where the Deputy references the value of “Irish bank bonds”, it is assumed that the question refers to Irish covered bonds purchased under the Third Covered Bond Purchase Programme (CBPP3), the latter being a component of the APP. In this context, the breakdown of Irish covered bonds purchased under the APP is not publicly available

The CBPP3 commenced in October 2014. The market value of covered bonds held on the Central Bank of Ireland’s balance sheet as at the end of 2014 was €499 million; €2,193 million at year-end 2015; €3,210 million as at the end of 2016; and €3.596 million as at the end of 2017. It is important to note that incorporated within these numbers are purchases of non-Irish covered bonds. (Source: Central Bank of Ireland Annual Reports 2014, 2015, 2016, 2017, available:

https://www.centralbank.ie/publication/corporate-reports/annual-reports).

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