asked the Minister for Finance if he will state in respect of the latest date for which statistics are available (a) the amounts of the assets, gross and net, placed outside the State by the eight Associated Banks by way of loan or investment, (b) the amounts so placed by (i) the Central Bank and (ii) the Post Office Savings Bank, indicating in each case the interest rate being earned, and (c) the total amounts lent or invested outside the State by the various Government Departments.
Ceisteanna—Questions. Oral Answers. - Investments outside State.
The following figures give the details requested by the Deputy regarding holdings of external assets. All the figures relate to 31st December, 1955, except where otherwise stated.
|
£ million |
|
|
Associated Banks: |
|
|
(i) gross |
220.2 |
|
(ii) net |
85.7 |
|
Central Bank |
80.2 |
|
Post Office Savings Bank Fund (nominal) |
26.5 |
|
Other Departmental (including Court) Funds (nominal) at 31st March, 1955 |
13.5 |
The latest published accounts of the Central Bank, those for the year ended 31st March, 1955, showed dividends and interest on the assets of the Legal Tender Note Fund at £1,638,730. The assets of the fund at the beginning of that year were £67.73 million and at the end £73.96 million. The average rate of interest on the external investments of the Post Office Savings Bank Fund at 31st December, 1955, was 3.3 per cent.