Written Answers Nos. 48-67
48. Deputy Fiona O'Loughlin asked the Taoiseach and Minister for Defence the reason the personnel strength of the Defence Forces was lower at the end of February 2018 than at the end of February 2017; and if he will make a statement on the matter. [24051/18]
Amharc ar fhreagraAs I indicated in my reply to Question No. 3 of 10 May 2018 on this matter, I am advised by the Military Authorities that the strength of the Permanent Defence Force, as at:
- 28 February 2018 was 9,057 (Whole Time Equivalent) personnel.
- 28 February 2017 was 9,070 (Whole Time Equivalent) personnel.
The overall difference in strength in February 2017 and February 2018 is a reduction of 13 personnel. Variations in strength figures are not an unusual occurrence and, particularly in the short term, are influenced by factors relating to timings of recruit intake and how this coincides with normal retirement patterns.
Given the unique and demanding nature of military life, there is understandably a relatively high level of turnover among Defence Forces personnel. This is not new and the Permanent Defence Force traditionally had a higher level of turnover than other areas of the public service.
An analysis of data going back a number of years shows the overall numbers departing the Permanent Defence Force in recent years are broadly consistent with the long term trend, with some exceptions. It should be noted that within these figures, on average approximately 22% of General Service recruits do not complete their induction training.
49. Deputy Fiona O'Loughlin asked the Taoiseach and Minister for Defence the number of personnel that have exited the Defence Forces, excluding mandatory retirements, to date in 2018; the overall number he anticipates for 2018, excluding mandatory retirements; his views on whether the pay and conditions of the Defence Forces is forcing personnel to consider employment in other areas; and if he will make a statement on the matter. [24052/18]
Amharc ar fhreagraThe military authorities have advised me that, as of 30 April 2018, 147 members of the Defence Forces left on a voluntary basis. The Defence Forces have a higher level of turnover than other areas of the public service. This is not unusual and is a feature of military organisations internationally. Given their voluntary nature, it is not possible to accurately estimate non-mandatory retirements for the remainder of 2018.
Rates of pay and conditions of employment in the Permanent Defence Force have traditionally been set by, amongst other things, reference to levels of pay across the various sectors of the Irish public service. Defence Forces' pay is increasing in accordance with public sector pay agreements. The focus of these increases is weighted in favour of those on lower pay. The Public Service Stability Agreement 2018-2020 provides for further increases in pay ranging from 6.2% to 7.4% over the lifetime of the Agreement with the focus of the agreement once again being on the lower paid. The first 1% increase in annualised salaries due from 1 January 2018 has been paid to members of the Permanent Defence Force.
The Defence Forces offers competitive starting salaries and excellent career opportunities for any young person thinking about joining. Following successful completion of an initial 6 months training, a newly qualified three star private starts on €27,257 per annum inclusive of military service allowance (MSA). This is an increase of 25% in the last 12 months. After 15 months training a newly commissioned officer starts on €35,000 per annum (Inclusive of MSA); if newly commissioned officers are already graduates they start on €40,000 per annum (inclusive of MSA).
In General Service ranks, the pay scales for Corporals (including MSA) ranges from €37,000 to €41,000 per annum. The pay scales for Sergeants, including MSA, ranges from €39,000 to €44,000 per annum. In addition almost half of enlisted ranks are in receipt of technical pay and duty allowances are also payable.
50. Deputy Fiona O'Loughlin asked the Taoiseach and Minister for Defence if the 2012 restructuring of the Defence Forces will be reviewed; and if he will make a statement on the matter. [24053/18]
Amharc ar fhreagraAs has been outlined on a number of occasions, there are no plans to review the reorganisation of the Defence Forces. The White Paper on Defence, published in 2015, resulted from a comprehensive examination of Defence requirements over a ten year planning horizon and it specifically provides for the retention of the structures introduced in 2012. As a result of the reorganisation there has been an improvement in the deployability and sustainability of the Defence Forces, both at home and overseas, and it is clear that any return to previously outdated structures would cause a range of unnecessary inefficiencies, including a return to understrength units.
51. Deputy Fiona O'Loughlin asked the Taoiseach and Minister for Defence the supports provided for members of the Defence Forces that undergo traumatic experiences while serving on UN mandated missions. [24054/18]
Amharc ar fhreagraAs I indicated in my reply to Question No. 14 of 10 May 2018 on this matter, I can assure the Deputy that the Defence Forces are fully aware of the importance of providing robust supports for personnel who require them, whatever the reason.
A range of medical and non-medical services are provided to ensure that Defence Forces personnel are medically fit to undertake the duties assigned to them and to treat any medical condition that may arise.
Psychiatric and psychological services, as well as the Defence Forces Personnel Support Service (PSS) are made available to members of the Defence Forces. These provide for the diagnosis and treatment of psychiatric or psychological disorders through to counselling and critical incident stress management. Until recently, certain psychiatric services were provided on a contract for services basis. This contractual arrangement has now ended and the Defence Forces are identifying alternative options for the provision of these psychiatric services.
In response to any significant operational incidents at home or overseas, PSS personnel trained in Critical Incident Stress Management are deployed to provide both one-to-one and group psychological support. Defence Forces personnel have, both while on a tour of duty and following their return home, access to a Primary Carer Medical Practitioner, either military (Medical Officer) or civilian (GP), whose role it is to assess, diagnose, treat and refer individuals as necessary. Personnel experiencing psychological issues can be referred for assessment and treatment as appropriate.
52. Deputy Fiona O'Loughlin asked the Taoiseach and Minister for Defence his plans to mark the 40th anniversary of Ireland's participation in the United Nations Interim Force in Lebanon; and if he will make a statement on the matter. [24055/18]
Amharc ar fhreagraThis year, the United Nations celebrates the 70th anniversary of UN peacekeeping and 2018 also marks significant anniversaries in relation to Ireland's UN peacekeeping role. It will be the 60th anniversary of Ireland’s first participation in a UN peacekeeping mission and it is the 40th anniversary of the first deployment of Defence Force personnel to Lebanon as part of the UNIFIL mission.
Ireland has made a huge commitment to supporting peace and security in the Middle East region and has participated in the UNIFIL mission since its establishment in 1978. There are currently some 370 personnel deployed to the mission.
My recent visit to Lebanon in March, coincided with the official UN commemorations in Naqoura to mark the 40th anniversary of the UNIFIL mission's establishment. It was an occasion to pay tribute to the tens of thousands of UN peacekeepers who have served together with local communities for peace in South Lebanon. It was a great honour to be present while a veteran Irish Peacekeeper delivered a poignant and emotional tribute to fallen peacekeepers at the ceremony. The respect and high regard that is held internationally for the professionalism displayed by our Irish Peacekeepers was clearly evident.
Ireland's long service with the UNIFIL mission over the last 40 years means that the names of towns and villages in Southern Lebanon are familiar to the Irish people. The forty thousand Irish soldiers who have served with UNIFIL since 1978 have brought back stories and great memories of the UNIFIL mission. Sadly, Irish soldiers have also died and are remembered monthly in a ceremony in Tibnin, Lebanon. I revisited the monument in the course of my recent visit and it was an opportunity to remember and honour the sacrifice made by Irish soldiers.
Appropriate commemorative events are being planned to mark this year's important milestones in the history of Ireland's participation in United Nations peacekeeping operations by the Defence Forces and An Garda Síochána and civilian personnel.
A State ceremony will take place in Dublin Castle on Sunday 24th June 2018. Arrangements are currently being finalised and details of this event will be published shortly. It is intended that the ceremony will be an occasion to show our pride in those who have served in our name in U.N. peacekeeping missions such as UNIFIL, while also calling to mind those who gave their lives so that others might know the gift of peace.
53. Deputy Clare Daly asked the Taoiseach and Minister for Defence the progress of projects 5 and 22 of the 2015 White Paper on Defence; and if progress has been affected by low recruitment figures and an increased rate of resignations from the Defence Forces. [24060/18]
Amharc ar fhreagraThe 2015 White Paper on Defence sets the defence policy agenda over a ten year planning horizon and encompasses all work carried out by the Department of Defence, the Defence Forces and Civil Defence. It comprehends the Government’s policy on defence of the State from armed aggression, the defence contribution to domestic security, the defence contribution to international peace and security and a broad range of other “non-security” roles which the Government require the Defence Forces and Civil Defence to undertake. It considers the defence capabilities required so that the Defence Forces can successfully deliver on the roles assigned by Government. Finally, the White Paper also considers implementation and the actions required to ensure that defence planning and provision processes are further developed.
During scoping of the White Paper implementation programme, 88 actions or projects were specifically identified. These actions represent a subset of the totality of the work being carried out as part of the implementation programme for the White Paper. While it is currently intended to have all 88 projects initiated or completed by the end of the ten year implementation programme, work in certain areas will continue beyond 2025 in order to ensure that changes, improvements and actions envisaged in the White Paper are fully implemented and to assure that positive outcomes endure and are embedded in the day to day business of the Defence Organisation.
To date, 37 projects have been initiated with 10 more projects due to initiate during 2018. Of these, 5 projects have been completed and closed/transitioned to normal business including Projects 5 and 22.
The Permanent Defence Force has levels of personnel turnover that exceed other areas of the public service and there is ongoing recruitment to replace personnel who depart. This is not a new development and is a feature of military organisations. This has not impacted on either of the projects referred to.
The following sets out a progress summary in relation to projects 5 and 22.
|
Number |
Project Name |
Summary Statement |
|
5 |
Engagement with the Connected Forces Initiative (CFI), the Planning and Review Process (PARP) and the Operational Capabilities Concept (OCC) |
The project objective was for Ireland to continue to engage with the Partnership Interoperability Advocacy Group (formerly CFI), participate in the Planning and Review Process (PARP) and have joined the Operational Capabilities Concept, Evaluation and Feedback (OCC EandF) programme. As part of the OCC E and F programme, Ireland selected a unit for the inaugural force package for participation in OCC E and F assessment. This is the first step in a two - year programme in which the unit will undertake two evaluations. Ireland also completed a full cycle of the PARP process. A lessons learned exercise was also completed to identify and improve this process. Ireland continues to participate in the informal Partnership Interoperability Advocacy Group (PIAG) discussions and took over as PIAG Co-Chair in January 2018 for one year, and will fill the Executive Officer position from mid-2018 (July) to mid 2019. |
|
22 |
Develop a new employment support scheme with the direct involvement of the Defence Forces |
The White Paper gave a commitment to develop a pilot Employee Support Scheme (ESS). The pilot programme for the scheme was conducted by 2 Bde in Gormanston in 2016. Following successful evaluation of the pilot programme, the Minister approved a three year roll out of the Scheme (2017-2019), with up to 2 iterations of the programme to be scheduled each year. 2 iterations of the programme were held in mid and late 2017 (in Limerick and Gormanston). Another iteration is scheduled for summer 2018 (June in Cork) and the 2nd iteration for 2018 is currently provisionally scheduled for later this year. Funding has been secured from the European Social Fund for the iterations of the scheme outlined in the 3 year implementation plan. As part of the roll out, it was agreed that a full review of the Scheme be scheduled for 2020 which would comprehensively evaluate "Value for Money" in relation to the Scheme. |
54. Deputy James Browne asked the Tánaiste and Minister for Foreign Affairs and Trade his plans to meet with the Iranian ambassador; the previous occasion on which he met with him; and if he will make a statement on the matter. [24000/18]
Amharc ar fhreagra55. Deputy James Browne asked the Tánaiste and Minister for Foreign Affairs and Trade the number of times the Irish ambassador in Ankara has visited Iran in each of the years 2011 to 2017 and to date in 2018; and if he will make a statement on the matter. [24001/18]
Amharc ar fhreagraI propose to take Questions Nos. 54 and 55 together.
Ireland, like other countries, uses secondary accreditations to carry on diplomatic relations with states where it does not have a resident mission. The Government has begun a programme to expand Ireland’s diplomatic footprint around the world, but it will always be the case that many countries are covered through secondary accreditations.
The Embassy of Ireland in Tehran was closed in February 2012. Since that date, the Ambassador in Ankara has represented Ireland in Iran as a secondary accreditation. Certain functions are also carried out by the resident Irish Honorary Consul, who is an Iranian national.
The Ambassador in Ankara has visited Iran twice each year from 2012 with the exception of 2016, when there was one visit. He has not yet visited in 2018. The Ambassador also remains in contact with EU Embassies in Tehran, and reports on Iranian affairs from Ankara. Other Embassy staff have also made some visits to Iran.
I have met the current Ambassador of Iran at functions but have not had a formal direct meeting with him. He meets frequently with senior officials in my Department.
56. Deputy James Browne asked the Tánaiste and Minister for Foreign Affairs and Trade the number of staff based in the Irish Embassy in Iran at the date of its closure; and if he will make a statement on the matter. [24002/18]
Amharc ar fhreagraThe Irish Embassy in Iran closed on the 31 March 2012. Please see in the table the number of staff based in the Irish Embassy in Tehran, on that date.
|
Date |
Mission |
Department of Foreign Affairs and Trade Officers posted from HQ |
Locally engaged (including agency) administrative, clerical and other support staff |
|
31/03/2012 |
Tehran |
1 Third Secretary |
4 local staff |
57. Deputy James Browne asked the Tánaiste and Minister for Foreign Affairs and Trade the number of staff based in the Irish Embassy in Ankara, Turkey to date; the number of staff members based there at the date of the closure of the Irish Embassy in Iran; and if he will make a statement on the matter. [24003/18]
Amharc ar fhreagraThe Irish Embassy in Iran closed on the 31 March 2012. The table sets out the number of staff based in the Irish Embassy in Ankara on that date, and also the number of staff currently based in the Embassy.
|
Date |
Mission |
Department of Foreign Affairs and Trade Officers posted from HQ |
Locally engaged (including agency) administrative, clerical and other support staff |
|
31/03/2012 |
Ankara |
Head of Mission (vacant until 13 April 2012) 1 First Secretary 1 Third Secretary 1 EO** |
4 local staff |
|
May 2018 |
Ankara |
Head of Mission 1 Assistant Principal Officer 1 Development Specialist 1 Third Secretary 1 HEO** 1 EO** 2 CO’s** |
4 local staff |
**Seconded into the Visa Office from the Department of Justice and Equality
58. Deputy James Browne asked the Tánaiste and Minister for Foreign Affairs and Trade if the banking difficulties faced by Irish companies seeking to trade with Iran will be addressed; and if he will make a statement on the matter. [24005/18]
Amharc ar fhreagraThe United States has begun the process of reimposing those US sanctions on Iran which had been suspended under the nuclear agreement with Iran (known as the JCPOA), from which the US has regrettably withdrawn. They will come back into force over a period of three to six months. The US Government has also stated an intention to impose additional sanctions. It is difficult to estimate the impact these actions will have, at this early stage. The EU and the other parties to the JCPOA are continuing to implement the agreement, and so the UN and EU sanctions on Iran, which were directly in force in this country and which were removed under the JCPOA, will not be re-imposed. The US sanctions which had caused the most difficulty for Irish firms seeking to do business in Iran were those in the banking and financial sector, and for the most part these were not suspended under the JCPOA and had remained in operation. This had led to a continued caution by many European banks, including Irish banks, in handling funds originating in Iran. This had undoubtedly slowed the regrowth of trade with Iran following the JCPOA. This will unfortunately continue to be a factor. EU Ministers have already discussed with Iran these potential difficulties, and at the Foreign Affairs Council this week Ministers discussed options for protecting EU companies to the greatest extent possible.
However, it cannot be ruled out that some business will be affected by US measures. In the banking sector in particular the problem is principally one of commercial decisions by the banks themselves, based on their own engagement in the US financial market and their assessment of the risks of the US financial measures.
59. Deputy Robert Troy asked the Tánaiste and Minister for Foreign Affairs and Trade if passport applications by persons (details supplied) will be expedited in view of the fact the applications were submitted on time and their processing time has surpassed the guidelines; and if passports will issue in time for the scheduled travel date of 7 June 2018. [24086/18]
Amharc ar fhreagraApplications for the persons named were registered with the Passport Service on 06/04/2018. I am advised by my colleagues in the Passport Service that these applications have been processed and the passports should be received in the post shortly.
60. Deputy Robert Troy asked the Tánaiste and Minister for Foreign Affairs and Trade if passport applications by persons (details supplied) will be expedited in view of the fact the applications were submitted in time and their processing time has surpassed the guidelines; and if passports will issue in time for the scheduled travel date of 7 June 2018. [24102/18]
Amharc ar fhreagraApplications for the persons named were registered with the Passport Service on 25/04/2018. I am advised by my colleagues in the Passport Service that these applications have been processed and the passports should be received in the post shortly.
61. Deputy James Browne asked the Minister for Finance if the difficulties ambassadors are facing in opening bank accounts with banks here will be addressed; and if he will make a statement on the matter. [24004/18]
Amharc ar fhreagraThe provision of banking services to customers is an independent commercial decision made by banks. The decision on whether to provide banking services to customers by a bank is dependent on a variety of factors, including their own risk appetite and regulatory requirements. In addition, it is important to note that banks are designated persons under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, and consequently have Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) obligations to meet under that legislation. A strict compliance with international sanctions is essential in this regard.
In meeting their obligations, banks are required to adopt a risk based approach as to how they conduct their business and who they conduct it with. The Central Bank of Ireland, as an independent financial regulator, has no role in the making of commercial decisions by regulated entities and it would be inappropriate for it to interfere or attempt to influence such decisions.
While any difficulty experienced by an Ambassador or others is regrettable, as outlined above, it is not within my power or remit to intervene on a bank’s risk based approach to business relationships.
62. Deputy Robert Troy asked the Minister for Finance the progress being made to ensure persons in areas in which flood defences have been installed can avail of house insurance; and if he will make a statement on the matter. [24076/18]
Amharc ar fhreagraI am conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses, and that is one of the reasons the Government has been prioritising investment in flood defences over the last number of years.
However, the provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet those risks. As Minister for Finance I have responsibility for the development of the legal framework governing financial regulation, and neither I, nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products or have the power to direct insurance companies to provide flood cover to specific individuals or businesses. This position is reinforced by the EU framework for insurance which expressly prohibits Member States from adopting rules which require insurance companies to obtain prior approval of the pricing or terms and conditions of insurance products.
Insurance Ireland has informed me that its members, since 1 June 2014, have factored data on all completed flood defence schemes, provided by the OPW, into their overall assessment of flood risk. This information has been provided as part of the information sharing arrangement entered into between OPW and Insurance Ireland (Memorandum of Understanding). The nature of this arrangement is such that it has led to a greater availability of flood cover in previously higher risk areas. For instance, the most recent Insurance Ireland survey of approximately 85% of the property insurance market in Ireland indicates that of the completed defence schemes, 90% of policies in areas benefiting from permanent flood defences include flood cover, while there has been an increase from 66% to 77% of policies in areas benefiting from demountable defences including flood cover.
In addition, the Deputy should note that the Insurance Ireland/OPW working group, which the Department of Finance attends, now meets on a quarterly basis to support the above information flow and to improve the understanding of issues between both parties. The working group allows for the sharing of relevant data on completed flood defence schemes. In this regard, the OPW has also provided a significant amount of detailed data in relation to adequacy and resourcing of flood warning systems, and mobilisation, efficacy, maintenance and development of demountable defences to Insurance Ireland. A sub-group has also been set up to explore the technical and administrative arrangements that may allow for the further sharing of data.
One of the outcomes of these discussions is that the insurance industry has now acknowledged that they accept that the demountable defences meet the desired 1:100 year standard. However it still maintains the view that while demountable defences are effective where correctly deployed, there are significant interdependencies, including human intervention, which increases the risk of failure. This is subject to ongoing discussions.
Finally, it is important to note that a consumer can make a complaint to the Financial Services Ombudsman in relation to any dealings with a Financial Services or Insurance provider during which they feel they have been unfairly treated. In addition, individuals who are experiencing difficulty in obtaining flood insurance or believe that they are being treated unfairly may contact Insurance Ireland which operates a free Insurance Information Service for those who have queries, complaints or difficulties in relation to insurance.
63. Deputy Michael McGrath asked the Minister for Finance his Department's role in relation to A Roadmap for Pensions Reform 2018-2023; his views on the tax relief on pension contributions at the marginal rate; his further views on the retention of the tax relief at the marginal rate; and if he will make a statement on the matter. [24109/18]
Amharc ar fhreagra69. Deputy Michael McGrath asked the Minister for Finance the membership of the working group set up by his Department to examine the tax relief on pension contributions; the terms of reference of the working group; if the working group will assess the tax position on pensions in its entirety including taxation upon extraction by pensioners; and if he will make a statement on the matter. [24226/18]
Amharc ar fhreagraI propose to take Questions Nos. 63 and 69 together.
The Government published A Roadmap for Pensions Reform 2018 - 2023 in February this year and my Department was involved in contributing to the development of the Roadmap. The Roadmap takes a holistic view of pension issues and details specific measures presented under six strands.
While implementation of the Roadmap is primarily a matter for my colleague the Minister for Employment Affairs and Social Protection and her Department, the Interdepartmental Pensions Reform and Taxation Group (IDPRTG) was allocated a number of specific measures under the Roadmap. The IDPRTG is chaired by the Department of Finance and includes representatives from this Department as well as from the Department of Public Expenditure and Reform, the Department of Employment Affairs and Social Protection, Revenue and the Pensions Authority.
Strand 3 of the Roadmap is concerned with improving the governance and regulation of supplementary pensions to, among other things, achieve scale, improve standards and simplify the provision of pensions. The actions allocated to the IDPRTG under the Roadmap derive in the main from Strand 3, and the terms of reference of the Group reflects this focus.
Action 3.13 of the Roadmap provides for a review of the cost of funded supplementary pensions to the Exchequer in the context of the development of a new auto-enrolment scheme. The Deputy will be aware that relief on pension related tax relief represents a large and generous tax expenditure. Ireland operates an ‘Exempt, Exempt, Taxed’ or EET structure for pensions tax relief. Under EET, and subject to certain restrictions, pension contributions and investment returns on pension funds are exempted from tax but pension drawdown is taxed at prevailing tax rates through the income tax system in retirement. On this basis, it is considered that marginal relief represents a significant incentive to encourage pension savings and to a degree represents a deferral of taxation.
The IDPRTG is currently considering this issue and will report by the end of the third quarter. As Minister for Finance, tax policy is a matter for me and my Department, and the work of the IDPRTG will be considered in that context.
64. Deputy Michael McGrath asked the Minister for Finance the mechanism used by the Strategic Banking Corporation of Ireland to obtain the services of an intermediary in order to provide finance for businesses; his views on whether the SBCI is distorting the market for finance; his further views on whether there are state aid issues in relation to SBCI's use of intermediaries and specifically the use of one intermediary over another; and if he will make a statement on the matter. [24186/18]
Amharc ar fhreagraThe Strategic Banking Corporation of Ireland (SBCI) is Ireland’s national promotional institution. The purpose of the SBCI is to deliver effective financial supports to Irish SMEs that address failures in the Irish SME finance market as well as encouraging competition, innovation and the efficient and effective use of EU resources and financial instruments. The SBCI achieves this purpose through both on-lending and risk-sharing activities.
As the Deputy is aware, the SBCI does not lend directly, rather it acts as a wholesale financial institution providing low cost, long-term wholesale funding to both bank and non-bank finance providers. These partner financial institutions are known as on-lenders. These on-lenders must in turn pass on the benefit of that low cost finance to the final SME borrowers. This is a key requirement in order for the SBCI to comply with state aid rules.
I am informed by the SBCI that the process of engaging in an agreement with a new on-lender generally involves a potential on-lender completing a standard template business plan and due diligence questionnaire. The SBCI then conducts a thorough and detailed assessment of the potential on-lender, including a consideration of its financial strength and repayment capacity; underwriting ability and credit risk management; operational capacity; and management and governance track record. Ultimately, the final decision to enter into an agreement with a new on-lender is made by the board of directors of the SBCI.
The Agriculture Cashflow Support Loan Scheme and the Brexit Loan Scheme that I announced in Budget 2016 and Budget 2017 respectively clearly demonstrate the SBCI’s risk-sharing guarantee model. The finance providers chosen as financial intermediaries to deploy SBCI’s risk-sharing guarantee schemes are selected via an open call process. In each case, the open call sets out a scoring system against which each applicant is assessed on a number of criteria outlined in the open call document. These eligibility criteria are determined by the requirements of the SBCI’s funding providers, counter-guarantors, Government Departments involved in the scheme and relevant policy considerations.
The SBCI operates on a market neutral basis. The opportunity to obtain SBCI funding as an on-lender or act as a financial intermediary participating in the SBCI’s risk-sharing guarantee schemes is open to any finance provider that can demonstrate that it fulfils the SBCI’s requirements through the rigorous processes that I have outlined.
In this way, the SBCI aims to ensure on-lenders and financial intermediaries maximise the benefit and the service provided to Irish SMEs as well as protecting taxpayer money and the investment of both State and European institutions.
65. Deputy Michael McGrath asked the Minister for Finance the differences in reporting between the legal owner and the beneficial owner in terms of the mortgage arrears statistics published by the Central Bank when mortgage accounts are incorporated in a securitisation model; if, for example the legal owner is a regulated entity and the beneficial owner is not a regulated entity, the areas of the Central Bank's statistics in which this would be recorded; if this would be deemed to be a mortgage owned by an unregulated owner; and if he will make a statement on the matter. [24187/18]
Amharc ar fhreagraI have been advised by the Central Bank of Ireland, that in their quarterly published Residential Mortgage Arrears and Repossessions Statistics, reporting entities are classified in three ways:
- regulated banks,
- regulated retail credit firms, and
- unregulated loan owners.
Guidance is given to the reporting entities that data is to be reported on the basis of legal ownership of the loan. In the example above, if the legal owner is a regulated entity, this would be reported to the Central Bank as either a regulated bank or a regulated retail credit firm.
66. Deputy Michael McGrath asked the Minister for Finance the number of Irish mortgages incorporated in a securitisation model; and if he will make a statement on the matter. [24188/18]
Amharc ar fhreagraI wish to advise the Deputy that my Department does not hold the information that is being sought. The Central Bank also advised that it does not collect data on the number of loans securitised by the breakdown requested. However, the Bank provided data on the outstanding stock in monetary terms of residential PDH and BTL loans securitised and serviced by Irish credit institutions since December 2013.
|
€ million |
PDH |
BTL |
|
Dec 2013 |
32,065 |
6,988 |
|
Dec 2014 |
30,356 |
6,847 |
|
Dec 2015 |
26,722 |
6,678 |
|
Dec 2016 |
26,689 |
6,471 |
|
Dec 2017 |
21,438 |
5,722 |
The full table can be found at https://www.centralbank.ie/docs/default-source/statistics/data-and-analysis/credit-and-banking-statistics/private-household-credit-and-deposits/private-household-credit-and-deposits-data/ie_table_a-18-2_credit_advanced_to_irish_resident_private_households_for_house_purchase.xls?sfvrsn=15.
67. Deputy Michael McGrath asked the Minister for Finance if the mortgage loans sold by a bank (details supplied) were sold using a securitisation model; if legal title moved to an unregulated loan owner; and if he will make a statement on the matter. [24189/18]
Amharc ar fhreagraI have been advised by the Central Bank of Ireland that it does not comment on specific transactions relating to regulated firms. However, further details on this portfolio sale are available on Danske’s website at: https://www.danskebank.ie/en-ie/Pages/Mortgage-Account-holders.aspx.
