Dáil Éireann Debate, Tuesday - 6 July 2021
269. Deputy Noel Grealish asked the Minister for Defence the amount of interest his Department has been charged for savings or other funds on deposit in Irish banks since negative interest rates were introduced by year; and if he will make a statement on the matter. [35929/21]
View answerMy Department operates a small number of bank accounts and, in accordance with public financial procedures, the amounts maintained in these accounts are kept to a minimum. The cost of negative interest rates incurred in respect of these accounts from 2017 to 2021 is outlined in the table below. Negative interest charges for my Department have fallen since 2019 following the move to a centralised government banking service.
Department of Defence Negative Interest Payments 2017-2021
|
Year |
Total |
|
2017 |
€5,219.52 |
|
2018 |
€8,504.14 |
|
2019 |
€176.52 |
|
2020 |
€148.73 |
|
2021 |
Nil |
