Vol. 559 No. 1
81 Ms O. Mitchell asked the Minister for Finance the latest report which he has received from the Central Bank regarding its total profits in 2002 and in 2003; and the amount which will be available for transfer to the Exchequer in 2002 and 2003. [25620/02]
The annual report and accounts of the Central Bank for the year ended 31 December 2001 was published in June of this year. The Central Bank made a profit of €563 million in 2001. From this, it transferred surplus income of approximately €531million to the Exchequer this year. This compares with an estimate of €475 million included in the 2002 budget.
Total projected Exchequer receipts from the Central Bank in 2002 are €1,141 million. This comprises €610 million in projected exceptional receipts on top of the €531 million in surplus income. A sum of €240 million of this total arises from the prospect that the value of old Irish denominated banknotes redeemed in exchange for new euro notes will fall short of the value of Irish notes outstanding. It is also anticipated that by year end some €370 million will have been transferred to the Exchequer in respect of accrued surplus from the issue of coin, which previously accrued to the currency reserve of the Central Bank.
The projected amount of surplus income for 2003, as provided by the Central Bank and published in budget 2003, is €575 million. A projection of €80 million is included in the budget in respect of receipts from the issue of coin.
