Dáil Éireann Debate, Thursday - 15 November 2012
25. Deputy Niall Collins asked the Minister for Finance if he is satisfied with the pace of progress of investigations into the collapse of the Irish Nationwide Building Society; if his attention has been drawn to the timetable under which they will be completed; and if he will make a statement on the matter. [50487/12]
View answerI have been advised that an investigation is being conducted under the Central Bank’s Administrative Sanctions Procedure into historic lending practices at INBS. For legal reasons, including the Bank’s confidentiality obligations pursuant to section 33AK of the Central Bank Act 1942, no further details can presently be disclosed. An appropriate number of enforcement staff, commensurate with the investigation’s complexity, is dedicated to it. Investigation resources are kept continuously under review.
The investigation is on-going. For the reasons already explained, no further details can be disclosed. Until the investigation has concluded, no decisions may be made as regards any future potential action.
