Press Releases

Statement by Brian Lenihan T.D., Minister for FinanceMonday, 4 January 2010During the week before Christmas, I underwent tests in hospital which identified a blockage at the entrance to my pancreas. A stent was inserted and the pancreas is now functioning normally. Cancerous tissue has been identified in the material that has caused the blockage. My medical advice is that chemotherapeutic and radiotherapeutic treatment are required. I will begin the treatment later this week.Notwithstanding

Press Release - Exchequer Statement for the period ended December 2009

Appointment of Kevin Cardiff as Secretary General of the Department of Finance The Government has appointed Mr Kevin Cardiff to be Secretary General of the Department of Finance, with effect from the end of this month. Mr. Cardiff will replace Mr David Doyle, who is retiring. Mr. Cardiff joined the Department of the Public Service (DPS) in 1984. He joined the Department of Finance in 1987. He has had a wide range of roles in the Department of Public Service and the Department of

Statement by the Minister for Finance on Banking

Appointment of Independent Expert to conduct a preliminary investigation into the Banking Crisis The Minister for Finance, Mr. Brian Lenihan T.D., today announced the appointment of Mr. Klaus Regling to conduct one of the preliminary investigations into the crisis in our banking system. Mr Regling has said he intends to begin his work shortly.

Delegation of Banking Functions to the NTMA.The Minister for Finance, Mr. Brian Lenihan T.D., announced today his intention to delegate additional functions in the banking area to the National Treasury Management Agency (NTMA).

Finance Bill 2010 The Minister for Finance Brian Lenihan T.D. today (4th February, 2010) published the Finance Bill 2010 which gives effect to the taxation measures announced in last December's Budget.

Revised system of expense allowances for Members of the Houses of the Oireachtas The Houses of the Oireachtas Commission today (10 Feb, 2010) announced a major reform of the system of expense allowances for members of the Houses of the Oireachtas. The reforms, proposed by the Oireachtas Commission and agreed by the Minister for Finance, have cross-Party support. They will substantially increase the transparency of the allowances system and provide information to members of the public on how

Appointment of additional expert to the preliminary investigation into the Banking Crisis The Minister for Finance, Mr. Brian Lenihan T.D., today announced the appointment of Mr. Max Watson to the preliminary investigation being undertaken into the crisis in our banking system.

Announcement of new Irish Director on the Board of the European Bank for Reconstruction and Development The Minister for Finance, Mr. Brian Lenihan T.D., announced today that he is nominating Mr. Eoin Ryan for the position of Alternate Director on the Board of the European Bank for Reconstruction and Development (EBRD).

Amendment to Code of Conduct on Mortgage Arrears extending the moratorium from 6 to 12 months for those in arrears.

Publication of 2010 Revised Estimates for Public Services The Minister for Finance, Mr. Brian Lenihan, T.D., presented the 2010 Revised Estimates for Public Services to Dáil Éireann today.

Bank of Ireland issuance of ordinary shares to the National Pensions Reserve Fund The Minister for Finance, Mr. Brian Lenihan T.D., welcomes the issue by Bank of Ireland to the National Pensions Reserve Fund of €250 million worth of its ordinary shares in lieu of a cash payment of this year's coupon due on the preference shares which it received under the recapitalisation agreement.

Government appoints experts to fulfil Programme for Government commitments on debt Ministers Brian Lenihan and Eamon Ryan today (25th February 2010) announced the establishment of a group of experts to work with the Government on our response to the issue of indebtedness.

Minister for Finance Welcomes European Commission Approval for National Asset Management Agency The Minister for Finance, Mr. Brian Lenihan T.D., today stated:“I welcome the decision of the European Commission to give its approval to the establishment of the National Asset Management Agency. The approval reinforces the confidence of the Government in the robustness of the NAMA process.

Minister for Finance Statement on Financial Regulator's Release of December 2009 Residential Mortgage Arrears and Repossessions

Minister for Finance, Mr Brian Lenihan, TD, announces the extension of longer-term lending limits for Credit UnionsThe Minister for Finance, Mr Brian Lenihan, TD, announces the extension of longer-term lending limits for credit unions under Section 35 of the Credit Union Act 1997. The extension requires to be underpinned by primary legislation and so an amendment to Section 35 is provided for in the Central Bank Reform Bill 2010 which the Government published today 30 March.The initiative

Banks Statement by the Minister for Finance – 30th March, 2010 IntroductionThis country has come a long way since we introduced the State guarantee 18 months ago. Back then, our banks were on the brink of financial collapse and our economy had gone into reverse. Revenue had fallen steeply and unemployment had risen sharply.

Opinion of the European Central Bank of 7 April 2010 on the Heads of the Central Bank Reform Bill The Minister for Finance has welcomed the publication of the opinion of the European Central Bank (ECB) on the heads of the Central Bank Reform Bill 2010. The Minister said today, “I welcome the publication of the ECB's opinion on the Government's legislation to reform the Central Bank and Financial Services Regulatory Authority

Appointments to the National Pensions Reserve Fund CommissionThe Minister for Finance, Mr Brian Lenihan TD, has announced the appointment of Mr Knut N. Kjaer and the re-appointment of Mr John A. Canning Jr to the National Pensions Reserve Fund Commission.

Technical Reclassification of the 2009 General Government Deficit The Minister for Finance, Mr. Brian Lenihan T.D., noted the publication of the Maastricht returns by Eurostat today and said: “As a result of a technical reclassification associated with Government support provided to the banking sector, the headline deficit for 2009 is 14.3% of GDP.

Information Note on Ireland's Reported 2009 General Government Deficit.The underlying General Government deficit for Ireland for 2009 is 11.8% of GDP. However, for technical reclassification reasons associated with the banking sector, the headline deficit is 14.3% for 2009 as set out in the Information Note below. It is important to point out that there is

Minister for Finance welcomed the announcement today that Bank of Ireland, intends to raise €3.4 billion of equity capital, subject to shareholder approval. The Government has agreed that the NPRFC will enter into a transaction with Bank of Ireland which will form part of this capital raising exercise.

National Solidarity Bond The Minister for Finance, Mr. Brian Lenihan T.D., welcomed today's announcement by the National Treasury Management Agency of the details of the National Solidarity Bond:“I am very pleased to launch the National Solidarity Bond, which I announced in my Budget 2010 speech.

Statement by the Minister for Finance on Programme to assist Greece  The Minister for Finance, Brian Lenihan T.D., welcomed the agreement today by Eurogroup Ministers to endorse a three year programme of support, which has strong conditionality attached, to assist Greece."

Allied Irish Banks plc Issuance of Ordinary Shares to the National Pensions Reserve Fund The Minister for Finance, Mr. Brian Lenihan T.D., today welcomed the issue by Allied Irish Banks plc (AIB) to the National Pensions Reserve Fund of 198,089,847 ordinary shares in lieu of the annual €280 million cash payment on the Fund's preference share investment

National Treasury Management Agency Bond Issuance The Minister for Finance, Mr. Brian Lenihan T.D. welcomed today's successful bond issuance by the National Treasury Management Agency (NTMA): "I welcome the National Treasury Management Agency's bond issuance today. The bonds offered in the auction were a 4 year and 10 year bond worth up to €750 million each and these bonds received bids of over 3 times the maximum amount on offer. Today's auction brings the total funds raised from the bond

Appointment of Mr. Steven Seelig to the Board of National Asset Management Agency (NAMA) The Minister for Finance has today appointed Mr. Steven Seelig to the Board of NAMA. Mr. Seelig has been available to provide advice, in a personal capacity to the NAMA Board since NAMA's establishment in December 2009. The Minister stated: “I am delighted to announce the appointment of Mr. Seelig to the Board of

Banks Statement by the Minister for Finance – 31st May, 2010The Minister for Finance, Mr. Brian Lenihan, TD has confirmed today that an additional €2 billion is being made available to Anglo Irish Bank to support the capital position of the bank. This capital injection is in line with the Minister's statement to the Dáil on the 30th March 2010, when he pointed out that the bank would need further capital to cover future losses and accomplish the restructuring of the bank and its

Statement by the Minister for Finance Mr. Brian Lenihan T.D., said: “The Government has now agreed that the Oireachtas consider these reports. In this context, I understand that Joint Oireachtas Committee on Finance and the Public Service intends to invite the authors of both reports to appear before it and elaborate on their

Consumer Credit Directive The Minister for Finance, Mr Brian Lenihan, TD, has signed into domestic law the Statutory Instrument which transposed Directive 2008/48/EC of the European Parliament and of the Council on credit agreements for consumers

SIGNATURE OF DOUBLE TAXATION AGREEMENT BETWEEN IRELAND AND HONG KONG

Minister for Finance, Mr. Brian Lenihan, TD, Welcomes Concluding Statement of IMF Irish Mission on the 2010 Article IV Consultation The Minister for Finance, Mr. Brian Lenihan TD, today welcomed the publication today of the Concluding Statement of the IMF Irish Mission on the 2010 Article IV Consultation: 

Opinion of the European Central Bank of 17 June 2010 on the Central Bank Reform Bill 2010 The Minister for Finance has welcomed the publication of the opinion of the European Central Bank (ECB) on the Central Bank Reform Bill 2010.  The opinion follows an earlier opinion from the ECB dated 7 April 2010 based on the draft heads of the Bill.

Minister for Finance Welcomes European Commission Approval for prolongation of the State Guarantee