Dáil Éireann díospóireacht - Wednesday, 4 May 1994

Written Answers. - State Guarantees.

Desmond J. O'Malley

Ceist:

76 Mr. O'Malley asked the Minister for Finance in respect of each State board agency or body, the total amount of guarantees given by the State, whether by him or otherwise; the total amount outstanding in respect of such guarantees specifying each such body and the total amount of guarantees given under the State Guarantees Act, 1954, with the amount now outstanding thereunder.

Minister for Finance (Mr. B. Ahern):

The following table lists the original amount guaranteed and the current amounts outstanding under all current guarantees given by the State to State boards, agencies or bodies and under the State Guarantees Act, 1954, as at 31/12/93.

	Facilities Guaranteed	Principal Exposure as at 31-12-93
	£m	£m
Aer Lingus Plc	17.7	15.5
Aer Rianta	16.0	14.7
ACC Bank Plc	800.0	787.9
Bord Gáis Éireann	188.9	180.8
Bord na Móna	237.4	182.6
Córas Iompair Éireann	187.0	142.8
Electricity Supply Board	718.5	512.5
Housing Finance Agency	331.6	405.6
ICC Bank Plc	1,000.0	818.5
Intervention Agency	1,096.0	503.0
Irish Steel	32.9	14.0
National Building Agency	0.9	0.5
Nítrigin Éireann	190.8	180.1
Telecom Éireann	665.6	384.9
Temple Bar Properties Ltd	15.0	15.5
State Guarantees Act	10.3	10.0
Total	5,508.6	4,168.9

In relation to ACC Bank and ICC Bank, the guarantees provided relate not only to specific interbank facilities and debt issues but also to customer deposits which the banks are authorised to accept on a guaranteed basis up to the set limit. Therefore, this limit has been included as the level of facilities originally guaranteed.

The amount currently outstanding for the Housing Finance Agency exceeds the facilities initially guaranteed because of the premium of £75 million which has since accumulated on its index-linked stock. The amount outstanding for Temple Bar Properties Ltd exceeds the facilities initially guaranteed because of exchange rate movements.

In addition to the above facilities, guarantees valued at £3,422 are still outstanding in relation to Irish Shipping Limited (in liquidation).