Written answers

Tuesday, 6 July 2021

Department of Employment Affairs and Social Protection

Departmental Data

Photo of Noel GrealishNoel Grealish (Galway West, Independent)
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342. To ask the Minister for Employment Affairs and Social Protection the amount of interest her Department has been charged for savings or other funds on deposit in Irish banks since negative interest rates were introduced by year; and if she will make a statement on the matter. [35940/21]

Photo of Heather HumphreysHeather Humphreys (Cavan-Monaghan, Fine Gael)
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My Department incurred the amounts of negative interest by calendar year listed below since negative interest rates were introduced.

Year Amount €
2017 1,732,258
2018 1,345,253
2019 1,013,977
2020 4,501,492

All interest incurred over the periods listed above were as a result of my Department ensuring banks were adequately funded to facilitate customer payments when due.

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