The attached Schedule sets out details of the negative interest rate charges incurred by the Agencies receiving funding from or operating under the aegis of my Department since the introduction of such charges by their respective financial services providers up until the 30th June 2021.
I wish to assure the Deputy that my Department and our Agencies are fully aware of the importance of achieving value for money in relation to the goods and services that we purchase including in relation to banking services such as the cost of maintaining positive credit balances.
My Department meets regularly with our Agencies, including in relation to operational matters and I have requested that their attention be drawn to the importance of ensuring that where possible they take the necessary steps to mitigate against the potential for incurring negative interest charges where such charges are imposed by their financial services provider.
State Agencies, organisations or boards under the remit of the Department or that receive funding from the Department
|
|
amount of negative interest charged since introdution up to 30 June 2021
|
|
Name of body
|
€
|
|
IDA Ireland
|
255,296
|
|
Enterprise Ireland
|
80,466
|
|
InterTrade Ireland
|
3,050
|
|
Micro Finance Ireland
|
27,915
|
|
National Standards & Safety Authority ( NSAI)
|
0
|
|
Local Enterprise Offices
|
1,000
|
|
Health & Safety Authority
|
31,154
|
|
Competition and Consumer Protection Commission
|
0
|
|
Personal Injuries Assessment Board
|
13,726
|
|
Irish Auditing and Accounting Supervisory Authority
|
0
|
|
|
412,607
|
