State Banking Sector

Dáil Éireann Debate, Tuesday - 26 June 2012

Tuesday, 26 June 2012

Ceisteanna (95)

Pearse Doherty

Ceist:

166 Deputy Pearse Doherty asked the Minister for Finance if the credit default insurance that Bank of Ireland has announced that it is putting in place in respect of the arrangement to provide a loan of one year to the Irish Bank Resolution Corporation in order to satisfy the promissory note commitment that fell due in March 2012, is provided by a party related to either Bank of Ireland or its principal shareholders. [30419/12]

Freagraí scríofa

Minister for Finance (Deputy Michael Noonan)

I am not aware of any such announcement. As the Deputy will be aware, risk management policies and actions are a matter for the Management and Board of the Bank of Ireland. I have no role in the day-to-day commercial and operational decisions of the bank, which include these matters. These decisions are taken by the board and management of the institution.