On 30 May 2011, the Government established an independent Commission on Credit Unions to review the future of the credit union movement and make recommendations in relation to the most effective regulatory structure for credit unions, taking into account their not-for-profit mandate, their volunteer ethos and community focus, while paying due regard to the need to fully protect depositors savin
The Minister for Finance, Mr Michael Noonan, TD, today announced that the Government had approved the publication of the Report of the Inter-Departmental Group on Mortgage Arrears. On publication of the Report, Minister Noonan stated:
The following statement on the end-September 2011 Exchequer Returns was issued today (Tuesday, 4th October 2011) by the Minister for Finance, Mr. Michael Noonan, T.D. and the Minister for Public Expenditure and Reform, Mr. Brendan Howlin, T.D.
15.09.11Opinion of the European Central Bank of 9 September 2011 on the Central Bank (Supervision and Enforcement) Bill 2011
The Minister for Finance has welcomed the publication of the opinion of the European Central Bank (ECB) on the Central Bank (Supervision and Enforcement) Bill 2011.
The opinion states that “the ECB welcomes the draft law as enhancing the supervisory and enforcement tools available to the Central Bank of Ireland”.
The Minister for Finance, Mr. Michael Noonan, T.D. today (13 September 2011) published the Insurance (Amendment) Bill 2011.
This Bill seeks to amend the Insurance Act 1964, which is the principal act underpinning the operation and role of the Insurance Compensation Fund (ICF).
The Bill proposes to:
28.07.11Minister for Finance Michael Noonan TD publishes the Central Bank (Supervision and Enforcement) Bill 2011
The Minister for Finance, Michael Noonan, TD, today announced the publication of the Central Bank (Supervision and Enforcement) Bill 2011.
26.07.11Direction Order in relation to Irish Life & Permanent Group Holdings plc and Irish Life & Permanent plc (together “ILP”)
Following an application by the Minister for Finance, the High Court has made a Direction Order under the Credit Institutions (Stabilisation) Act 2010 to facilitate the necessary recapitalisation of ILP by 31 July 2011 to meet with the Central Bank’s regulatory requirements. The Minister sought the order after consultation with the Central Bank of Ireland.
Bank of Ireland Capital Investment
22.07.11Statement in response to the announcement by the Chancellor of the Exchequer on changes to the interest rate on the UK bilateral loans
The Minister for Finance, Michael Noonan T.D., welcomes the announcement by the Chancellor of the Exchequer, the Rt Hon George Osborne MP, that he proposes a reduction of the interest rate on the UK bilateral loans to Ireland:
The following statement was issued today (Tuesday, 19th July 2011) by the Minister for Finance, Mr. Michael Noonan, T.D.
“The Budget Strategy Memorandum or BSM – a confidential, mid-year update of the emerging economic and budgetary outlook – was discussed at Cabinet today.