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Bank’s reserves out of reach

February 16, 2011

By Staff Reporter

A spokesman for the Central Bank confirmed last week that a study into the adequacy of the Bank’s reserves had been completed over the last few weeks.
The spokesman said it would be “inappropriate” to comment on its contents.
A copy of the review and its conclusions has been sent to McCreevy, who has taken it into consideration in the framing of next year’s Budget.
A Department of Finance spokesman said that it had been taken into account in the minister’s calculations on the surplus he might draw from the Central Bank in 2004.
This surplus estimate will be included in a pre-budget White Paper to be published at the end of this week. Early indications suggest that the actual figure will be lower than the

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