Each of the covered institutions covered by the Bank Guarantee Scheme pay a quarterly charge to the Exchequer for its guarantee. For the years in question, I expect to have received the following monies under the Guarantee Scheme:
Year
|
€
|
2008
|
110,203,000
|
2009
|
433,401,692
|
2010
|
456,395,308
|
We intend to collect at least this €1bn from the guaranteed institutions and this figure may be increased as institutions move from the existing guarantee scheme into the proposed revised guarantee scheme shortly to be brought to the Oireachtas.
In addition to the charge for the Guarantee levied on the covered institutions, institutions under the Guarantee are obliged to recoup the administrative costs of the Guarantee to the Minister. To date payments of €2,495,459 have been made, covering the period September 2008 to April 2009. There will be further charges made periodically between now and the end September 2010 when the Scheme is due to end.