Dáil Éireann Debate, Tuesday - 20 March 2018
382. Deputy Pearse Doherty asked the Minister for Business, Enterprise and Innovation the cost to her Department of negative interest rates on deposits held; the details of same for agencies under her aegis; and if she will make a statement on the matter. [11730/18]
Amharc ar fhreagraMy Department holds a number of public bank accounts for operational purposes, none of which incur bank interest or charges.
The operation of bank accounts by agencies under the aegis of my Department is a day-to-day matter for the agencies in question, and not one in which I have a direct function.
The Personal Injuries Assessment Board has informed me that it has incurred a charge of €4,738 in respect of a negative interest rate relating to a demand deposit account. The negative rate was introduced in April 2017 and the charge relates to the period from that date to February 2018.
No other agency of my Department has incurred costs as a result of negative interest rates.
