Interest Rates

Dáil Éireann Debate, Tuesday - 14 June 2022

Tuesday, 14 June 2022

Ceisteanna (1290)

Noel Grealish

Ceist:

1290. Deputy Noel Grealish asked the Minister for Justice the State agencies, organisations or boards under the responsibility of her Department or receive funding from her Department that have been charged negative interest by financial institutions since negative interest rates were introduced; the amount of interest that has been charged to each State agency, organisation or board in 2021 in each of the preceding years in which such charges were applied; and if she will make a statement on the matter. [29209/22]

Freagraí scríofa

Minister for Justice

I have requested the information sought by the Deputy from the agencies, bodies and offices under the remit of my Department in relation to negative interest charges. The information provided to my Department is set out in tabular format below.

An Garda Síochána	The amount of interest charged on An Garda Síochána deposit accounts since negative interest rates were introduced in the period 2017 to 2021 is €44,239.
Property Services Regulatory Authority	The amount applied during 2021, since the introduction of negative interest rates, was €3,108.91. The PSRA has new procedures in place to ensure the minimum amount of funds are held in each account, to eliminate or significantly reduce negative interest charges.
Data Protection Commission	Since the establishment of Vote 44 on January 1, 2020, the Data Protection Commission has been charged a total of €186.95 in negative interest rates.
Courts Service	2017 - €61,247.65 2018 - €172,535.47 2019 - €156,526.83 2020 - €251,158.71 2021 - €340,312.49.
Legal Aid Board	2018 - €4,271 2019 - €24,317 2020 - €30,531 2021 - €41,497
Irish Prison Service	2021 - €10,443.55 2020 - €15,492.57