Dáil Éireann Debate, Wednesday - 20 April 2011
77 Deputy Brian Lenihan asked the Minister for Finance if he has made contact with US regulatory authorities to collate the dollar assets of Irish banks in order that they can be used as security to secure funding from the US Federal Reserve; and if he will make a statement on the matter. [8792/11]
Amharc ar fhreagraI have not made contact with the US regulatory authorities regarding the matter the Deputy refers to. The Deputy may however be aware that on 21 December 2010, the ECB announced a prolongation of US dollar liquidity-providing operations via its swap arrangements with the Federal Reserve until 1 August 2011. These dollar liquidity-providing operations take the form of repurchase operations against eligible criteria and are carried out as fixed rate tenders with full allotment. The operations have a maturity of seven days and are conducted every week. The Central Bank has advised me that this facility is available for all Eurosystem counterparties, if required.
