The expectation is that the greater proportion of banknotes outstanding will be returned. As regards coin, we would not expect more than 80 per cent in overall value and considerably less in lower denominations. The Minister for Finance has already indicated that the banks will not impose a handling charge on st euro cash provided to retailers prior to 1 January.
Also, there will be no charge on retailers for lodgement of Irish banknotes and coin during the dual circulation period and for a short time th afterwards (up to 15 February). During this period the Central Bank will pay a lodgement fee to the banks in part compensation for the fee income that they will forgo. The cost is estimated at £ million.