157. Deputy Gerry Adams asked the Minister for Finance further to Parliamentary Question No. 254 of 19 of February 2013, if he will provide further detail and greater clarification as to what he meant by a no gain-no loss basis on the transaction; if he will confirm that this statement in effect means that the liquidation of Irish Bank Resolution Corporation resulted in the European Central Bank finance lent by the Central Bank of Ireland to Bank of Ireland on foot of the Irish Government bond issued to IBRC becoming permanently retained in Bank of Ireland’s balance sheet and that the Central Bank of Ireland retained ownership of the then Bank of Ireland and pledged collateral; if he will confirm whether the finance that was provided from the Central Bank of Ireland to Bank of Ireland on the Government bond issued to IBRC and retained by Bank of Ireland as part of a repurchase agreement with IBRC was exceptional liquidity assistance or whether it was a finance provider under the ordinary open market operations of the ECB; if he will explain in granular detail the reason the IBRC liquidation caused the Central Bank of Ireland to retain ownership of collateral that at the time of the liquidation was not owned by IBRC; and if he will make a statement on the matter. [19872/13]

Summary

157. Deputy Gerry Adams asked the Minister for Finance further to Parliamentary Question No. 254 of 19 of February 2013, if he will provide further detail and greater clarification as to what he meant by a no gain-no loss basis on the transaction; if he will confirm that this statement in effect means that the liquidation of Irish Bank Resolution Corporation resulted in the European Central Bank finance lent by the Central Bank of Ireland to Bank of Ireland on foot of the Irish Government bond issued to IBRC becoming permanently retained in Bank of Ireland’s balance sheet and that the Central Bank of Ireland retained ownership of the then Bank of Ireland and pledged collateral; if he will confirm whether the finance that was provided from the Central Bank of Ireland to Bank of Ireland on the Government bond issued to IBRC and retained by Bank of Ireland as part of a repurchase agreement with IBRC was exceptional liquidity assistance or whether it was a finance provider under the ordinary open market operations of the ECB; if he will explain in granular detail the reason the IBRC liquidation caused the Central Bank of Ireland to retain ownership of collateral that at the time of the liquidation was not owned by IBRC; and if he will make a statement on the matter. [19872/13]

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• IBRC Liquidation

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