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Business & Finance Corporate Restructuring Summit John Moran, Secretary General, Department of Finance September 201

Business & Finance Corporate Restructuring Summit John Moran, Secretary General, Department of Finance September 2013. Solid recovery in the Sovereign. Significant milestones achieved to date in 2013. 1. 2. 3. 4. 5. 6. 7. 8.

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Business & Finance Corporate Restructuring Summit John Moran, Secretary General, Department of Finance September 201

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  1. Business & Finance Corporate Restructuring Summit John Moran, Secretary General, Department of Finance September 2013

  2. Solid recovery in the Sovereign

  3. Significant milestones achieved to date in 2013 1 2 3 4 5 6 7 8

  4. Household debt burden remains quite high…impacting consumer spending While debt burden remains high, disposable incomes have begun to help rebalancing Consumer spending still relatively weak, back at 2006 levels Note: AGDI = actual gross disposable income of households Annualised) Source: CSO and Central Bank of Ireland Source: CSO

  5. Debt levels are still high, apart from “core” domestic private companies Household debt among the highest in EU Credit to resident Irish enterprises Source: Central Bank of Ireland Source: Eurostat

  6. Latest ECB data show dispersion in SME interest rates persisting..... a problem for the single market Rates on loans (<€1m) to Irish NFCs c.140bps over German competitors Source: ECB

  7. SME Credit & Lending • In 2013, the NPRF introduced 3 new SME funds to provide equity, credit and restructuring / recovery investment worth up to €850m with NPRF acting as a cornerstone investor alongside third-party investors. • A range of funding support is being made available, including: • Microfinance fund - €40m available over 5 years • Loan Guarantee Scheme - €150m per annum over 3 years • Enterprise Ireland - over €200m provided in 2013 • EIB’s European Investment Fund - €80m available through AIB • The Silicon Valley Bank partnership with the NPRF prepared to invest $100mover 5 years • Visit http://www.nprf.ie/SMEFunds/SMEFunds.htmfor more details.

  8. SME Outstanding Credit Advanced and Property Related Lending

  9. Disclaimer This presentation is for informational purposes only. No person should place reliance on the accuracy of the data and should not act solely on the basis of the presentation itself. The Department of Finance does not guarantee the accuracy or completeness of information which is contained in this document and which is stated to have been obtained from or is based upon trade and statistical services or other third party sources. Any data on past performance contained herein is no indication as to future performance. No representation is made as to the reasonableness of the assumptions made within or the accuracy or completeness of any modelling, scenario analysis or back-testing. All opinions and estimates are given as of the date hereof and are subject to change. The information in this document is not intended to predict actual results and no assurances are given with respect thereto. 9

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