Dáil Éireann Debate, Tuesday - 14 June 2022
169. Deputy Noel Grealish asked the Tánaiste and Minister for Enterprise, Trade and Employment the amount of interest that his Department has been charged by financial institutions since negative interest rates were introduced by year; and if he will make a statement on the matter. [29199/22]
View answerThe framework contract for banking services negotiated by the Office of Government Procurement specifically provides that all accounts linked to the Paymaster General cash pool are not subject to negative credit interest. Accordingly, as a client of the framework contract the Department's own bank accounts are, therefore, not subject to negative credit interest.
My Department is satisfied that as a client of the OGP framework contract for banking services provided, that it is achieving value for money on the cost of such services including in relation to matters such as the cost of maintaining credit balances.
