asked the Minister for Finance if he will state the result of his request to non-associated banks to meet a portion of the capital requirements for the current year.
Ceisteanna—Questions. Oral Answers. - Non-Associated Banks.
72.
Following discussion with the non-associated banks it is envisaged that they will invest a total of £8 million with the Exchequer in the year 1971-72. The investment is to be made by the purchase of Government securities.
Can the Parliamentary Secretary state the amount the banks were asked to provide for the Capital Budget? Was it greater than the sum they have agreed to invest?
The Deputy was dealing with this matter earlier on. The point is that negotiations went on between the banks and the Central Bank and they did not come to a satisfactory conclusion as far as the Central Bank were concerned and the Central Bank have directed that this amount be invested.