Dáil Éireann Debate, Thursday - 30 April 2015
69. Deputy Lucinda Creighton asked the Minister for Finance if, as part of the review of the Irish Bank Resolution Corporation’s commercial dealings, the interest rate charged on loans to large borrowers who were not in arrears will be investigated; and if he will make a statement on the matter. [17106/15]
View answerAs the Deputy is aware, the Minister for Finance has issued directions to the Special Liquidators to perform a review and produce a report having considered all transactions, activities and management decisions, other than those relating solely to the acquisition of assets by the National Asset Management Agency which either:
1. Resulted in a capital loss to IBRC of at least €10 million; or
2. Are specifically identified as giving rise to potential public concern in respect of the ultimate returns to the taxpayer.
The period under review is between the nationalisation of the then Anglo Irish Bank on 21 January 2009 and the Special Liquidation of Irish Bank Resolution Corporation Limited on 7 February 2013.
This would not preclude matters with regard to interest rates charged on loans to large borrowers who were not in arrears being investigated to the extent such transactions, activities and management decisions fall within the scope of the review as set out above.
