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Central Bank of Ireland Expenditure

Dáil Éireann Debate, Thursday - 18 July 2013

Thursday, 18 July 2013

Ceisteanna (167)

Michael McGrath

Ceist:

167. Deputy Michael McGrath asked the Minister for Finance the amount of professional fees incurred by the Central Bank of Ireland in 2011, 2012 and to date in 2013; the nature of the professional services secured; the names and amounts billed by the top ten suppliers of such services; and if he will make a statement on the matter. [36675/13]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I have been advised by the Central Bank of the following professional fees for 2011, 2012 and up to 17 June 2013, broken down by category. I am informed by the Central Bank that, for reasons of commercial confidentiality, the Central Bank cannot provide information on individual firms.

Categorised Professional Fees incurred in 2011

Euros

Legal

2.919m

Accountancy

2.771m

Financial Services

29.481m

Other Consultancy

777m

Total

35.948m

Categorised Professional Fees incurred in 2012

Euros

Legal

1.729m

Accountancy

1.698m

Financial Services

14.131m

Other Consultancy

3.993m

Total

21.551m

Categorised Professional Fees incurred in 2013 to 17 June

Euros

Legal

181m

Accountancy

93m

Financial Services

1.656m

Other Consultancy

409m

Total

2.339m

The decrease in professional fees in 2012 from 2011 is largely due to reduced expenses incurred (€12.0 million) in relation to the Prudential Capital Assessment Review and Prudential Liquidity Assessment Review of certain financial institutions in 2012. when compared with the previous year (€29.1 million). These costs were fully recouped from the relevant financial institutions.

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