Dáil Éireann Debate, Tuesday - 6 July 2021
614. Deputy Noel Grealish asked the Minister for Rural and Community Development the amount of interest her Department has been charged for savings or other funds on deposit in Irish banks since negative interest rates were introduced by year; and if she will make a statement on the matter. [35939/21]
View answerFinancial services for my Department, including banking arrangements, are provided on a shared service basis by the Financial Shared Service Offices of the Department of Justice. As such, my Department does not hold a bank account in its own right and so has not incurred any negative interest charges for savings or funds on deposit.
With regard to the Dormant Accounts Fund, while my Department is responsible for the preparation and implementation of disbursement schemes and related annual actions plans, the fund itself is managed by the National Treasury Management Agency (NTMA). The NTMA annual reports provide detail on the Dormant Accounts Fund, including negative interest returned on the money in recent years. These reports are available on the NTMA website. www.ntma.ie/publications.
