Finance (Certain European Union and Intergovernmental Obligations) Bill 2016
Public bill · Government · Presented
It would let the Irish State lend money to the Single Resolution Board if a bank rescue runs out of other funds after shareholders and creditors have already absorbed losses. The loan would act as temporary bridge funding, up to €1.815 billion, and the Minister for Finance would be given the power to carry out Ireland’s part of the deal. Any money repaid to the State would go back into the Central Fund, so the public money can be recovered if the loan is repaid.
Formal long title
Bill entitled an Act to make provision in relation to an agreement that is to be entered into between the Single Resolution Board and the State concerning the lending of sums by the State to the Single Resolution Board in circumstances where, after disposal of the latter's funds in the manner set out in Article 5(1) of the Agreement on the Transfer and Mutualisation of Contributions to the Single Resolution Fund done at Brussels on 21 May 2014, such disposal is not sufficient to meet the costs of a resolution action referred to in that Article and, in particular, to enable the making of payments from the Central Fund or the growing produce of that Fund of sums, not exceeding, in the aggregate, a certain amount, to that Board and to provide for related matters.
Last updated 12 April 2018
- Minister for Finance Primary
- First StageDáil
- Second StageDáil
- Committee StageDáil
- Report StageDáil
- Fifth StageDáil
- Second StageSeanad
- Committee StageSeanad
- Report StageSeanad
- Fifth StageSeanad Enacted
- EnactedEnacted
- Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Committee and Remaining Stages Seanad
- Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Second Stage Seanad
- Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Order for Report Stage Dáil
- Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages Dáil
- Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage Select Committee on Finance, Public Expenditure and Reform, and Taoiseach
- Single Resolution Board (Loan Facility Agreement) Bill 2016: Second Stage (Resumed) Dáil
- Single Resolution Board (Loan Facility Agreement) Bill 2016: Referral to Select Committee Dáil
- Single Resolution Board (Loan Facility Agreement) Bill 2016: Second Stage (Resumed) Dáil
- Single Resolution Board (Loan Facility Agreement) Bill 2016: Order for Second Stage Dáil
- Single Resolution Board (Loan Facility Agreement) Bill 2016: Second Stage Dáil