Committee Reports::Report - Appropriation Accounts 1965 - 1966::14 July, 1967::Appendix


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APPENDIX XXIV.

POST OFFICE SAVINGS BANK

ACCOUNT of all deposits received and paid during the Year ended 31st December, 1965, together with (1) a Statement showing the aggregate amount of the liabilities of the Government to depositors in the Post Office Savings Bank at 31st December, 1965, and the nature and nominal amount of the securities held by the Minister for Finance to meet those liabilities at that date; and (2) an Account for the Year ended 31st December, 1965, showing the interest accrued in respect of the securities standing to the credit of the Post Office Savings Bank Fund, the interest paid and credited to depositors in pursuance of the Acts relating to the Post Office Savings Bank, and the expenses incurred in the execution of those Acts.

(Presented to both Houses of the Oireachtas pursuant to the Post Office Savings Bank Acts, 1861 to 1958).

(The Comptroller and Auditor General in his report on the Appropriation Account of the Vote for Posts and Telegraphs for the year 1965/66 will report on his examination of the Accounts within.)

TRUSTEE SAVINGS BANKS

ACCOUNT of all sums received from and paid to the Banks by the Minister for Finance during the Year ended 20th November, 1965, together with a Statement showing in the case of each Bank the amount of the liability of the Government at the 20th November, 1965, and the liability at that date of the British Government.

POST OFFICE SAVINGS BANK

I. ACCOUNT of all deposits received and paid during the year ended 31st December, 1965, showing also the total amount due to depositors at the close of the year.

				£	s.	d.			£	s.	d.
Balance at 31st December,				126,353,059	1	1	Repayments during the year
1964	...	...	...				ended 31st December, 1965		25,564,168	17	6
Deposits received during the year ended 31st December,							Balance (inclusive of Interest) due at the close of the year
1965	...	...	...	25,264,756	7	2	1965 to all depositors	...	129,275,275	1	7
†Provision for interest due to depositors for the said year				3,221,628	10	10
				154,839,443	19	1			154,839,443	19	1

Charges of Management and Expenses incurred for the Post Office Savings Bank for the year ended 31st December, 1965 £415,306 15s. 6d.

L. Ó BROIN,

Secretary.

Department of Posts and Telegraphs.

21st June, 1966.

POST OFFICE SAVINGS BANK

II. ACCOUNT for the year ended 31st December, 1965, showing the interest accrued in respect of the securities standing to the credit of the Post Office Savings Bank Fund, the interest paid and credited to depositors in pursuance of the Acts relating to the Post Office Savings Banks, and the expenses incurred in the execution of those Acts. (Customs, Inland Revenue and Savings Banks Act, 1877—section 17.)

			£				£
Interest accrued on securities standing to credit of the Post Office Savings Bank				Interest paid and credited to depositors			3,223,290*
Fund	...	...	6,193,753	Expenses incurred in
				the year	...	...	415,307
				Amount set aside towards provision against depreciation in value of
				securities	...	...	2,555,156
			6,193,753				6,193,753

T. K. WHITAKER,

Secretary.

Department of Finance.

4th July, 1966.

III. STATEMENT showing the aggregate amount of the liabilities of the Government to depositors in the Post Office Savings Bank at 31st December, 1965, and the nature and nominal amount of the securities held by the Minister for Finance to meet those liabilities at that date. (Savings Banks Act, 1904—section 9.)

Liabilities			Nature and Nominal Amount of Securities held
		£	3½%	Fourth National Loan,
Balance due to depositors at 31st December, 1965 (including				1950-50	...	...	...	302,372
			3%	Exchequer Bonds, 1965-70				750,880
			3½%	Exchequer Bonds, 1965-70				116,743
			5%	National Loan, 1962-72			...	516,537
interest)	...	129,275,275	4½%	National Loan, 1973-78			...	780,450
			4½%	National Loan, 1975-80			...	237,050
			5%	National Savings Bonds, 1971-81	...	...	...	156,657
			5½%	National Loan, 1966			...	191,882
			6%	National Loan, 1967			...	188,970
			5½%	Exchequer Stock, 1971-74				667,572
			5¼%	National Development
				Loan, 1979-84			...	873,503
			6%	Exchequer Stock, 1980-85				1,064,106
			5¾%	National Loan, 1982-87				2,564,360
			4½%	Exchequer Stock, 1968			...	3,943,784
			5¾%	Exchequer Stock, 1984-89				2,566,840
			6%	Exchequer Loan, 1985-90				909,330
				National Bonds, 1966-77				172,600
			6%	Funding Loan, 1969				4,302,815
			6¾%	National Loan, 1986-91			...	7,237,290
				Exchequer Bills		...	...	6,560,000
			4½%	Land Bonds		...	...	199,117
			4½%	New Land Bonds			...	13,731
			4%	Land Bonds		...	...	44,632
Notes.			Agricultural Credit Corporation Ltd. 3% State Guaranteed
1. The figure of £129,275,275 above includes £19,362,644 in respect of the liability to Trustee Savings Banks.			Mortage Stock, 1957-67				...	570,000
			Agricultural Credit Corporation Ltd. 3½% State Guaranteed
			Mortage Stock, 1966-76				...	133,000
			Irish Sugar Company 4%
2. The aggregate value of the assets listed in the adjoining column based on the Stock Exchange Securities being taken at (a) cost, (b) market value (exclusive of accrued interest) as at 31st December, 1965, was (a) £138,006,260 and (b)			Guaranteed Debenture Stock				...	93,000
			Electricity Supply Board 5%
			Stock, 1966-75			...	...	75,000
			5% Transport Stock, 1970-75				...	500,000
			6% Transport Stock, 1977-82				...	778,750
			Dublin Corporation 3%
			Redeemable Stock, 1968-78				...	145,000
			Dublin Corporation 5%
			Redeemable Stock, 1975-80				...	4,266,812
£136,401,287			Dublin Corporation 5%
			Mortgage (31/12/74)			...	...	219,335
			Cork Corporation 3%
			Redeemable Stock, 1969-79			...	...	242,700
			Cork Corporation 5% Mortgage
			(31/12/75)		...	...	...	59,356
			3% Funding Loan, 1959-69				...	500,000
			3% Savings Bonds, 1960-70				...	400,000
			Ways and Means Advances to
			Exchequer		...	...	...	50,690,625
			Advances under Telephone
			Loans fund Acts, 1935-64				...	3,008,000
			Advances under Telephone
			Capital Acts, 1924-63				...	4,060,947
			Interest accrued but not due for payment (computed amount) less amount due to the Minister for Posts and
			Telegraphs		...	...	...	1,414,143
			Income Tax recoverable					3,554
			Deposit Account—Central Bank
			of Ireland		...	...	...	7,5000,000

Department of Finance.	T. K. WHITAKER,
4th July, 1966.	Secretary.

TRUSTEE SAVINGS BANKS

IV. ACCOUNT of all sums received from and paid to the Banks by the Minister for Finance during the year ended 20th November, 1965.

				£					£
Balance at 20th					Amounts paid to Banks
November, 1964		...	...	19,645,438	during the year			...	1,445,000
Amounts received from Banks during the year				1,085,000	Balance (inclusive of interest) due to Banks at 20th November,
Interest credited to Banks in the year ended 20th November,					1965	...	...	...	19,866,840
1965	...	...	...	581,402
£				21,311,840	£				21,311,840

V. STATEMENT showing in the case of each Bank the amount of the liability of the Government at the 20th November, 1965, and the liability at that date of the British Government.

Bank		Amount due			Nominal amount of stocks and bonds held for depositors by the British National Debt Commissioners
Bank		By the Minister for Finance	By the British National Debt Commissioners	Total
		£	£	£	£
Cork	...	7,349,355	5,634	7,354,989	12,637
Dublin	...	9,018,273	6,559	9,024,832	23,421
Limerick	...	699,242	3,350	702,592	910
Monaghan	...	974,636	5,009	979,645	4,628
Waterford	...	1,825,334	2,485	1,827,819	17,742
Totals	...	19,866,840	23,037	19,889,877	59,338

	T. K. WHITAKER,
	Secretary.
Department of Finance.
4th July, 1966.

†The provision in the case of Trustee Savings Banks is for the year of account ended 20th November, 1965.

*Including in the case of Trustee Savings Banks, the interest payable for the year ended 31st December, 1965.