Dáil Éireann Debate, Thursday - 30 September 2010
39 Deputy Terence Flanagan asked the Minister for Finance if he has ordered an investigation into Anglo Irish Bank to ensure that after the guarantee was provided to Anglo Irish Bank and prior to its nationalisation in 2009, securities held by the banks against its loan portfolio were adequately protected; and if he will make a statement on the matter. [33925/10]
Amharc ar fhreagraI have been informed by the bank that it is not aware of any issues in relation to the adequacy of securities held by the Bank against its loan portfolio during the time period from the introduction of the Bank Guarantee in September 30th 2008 to Nationalisation on the 21st January 2009. The Bank has in place a series of controls to ensure loan security is adequately taken, held and is protected. The Bank also works with external legal advisers in this regard. Should any issue arise in the course of the extensive review of documentation associated with the transfer of assets to NAMA, through the bank's own review processes, or otherwise I will certainly order a full investigation by the appropriate authorities.
