IBRC Loans

Dáil Éireann Debate, Tuesday - 9 June 2015

Tuesday, 9 June 2015

Ceisteanna (353)

Michael McGrath

Ceist:

353. Deputy Michael McGrath asked the Minister for Finance if the review of transactions undertaken by Irish Bank Resolution Corporation announced by him on 23 April 2015 will involve an examination of the interest rates charged by the corporation on commercial loans since the corporation was nationalised, where any loss arising might be categorised as a revenue loss as opposed to a capital loss; if he has discussed this specific issue with the special liquidator; if it is the intention of the special liquidator to examine the issue of interest rates; and if he will make a statement on the matter. [22482/15]

Freagraí scríofa

Minister for Finance

As announced last week, the transaction review which the Special Liquidators were directed to conduct has been replaced with a Commission of Investigation, therefore the question posed by the Deputy is no longer applicable.

A draft terms of reference for the Commission of Investigation were made available on the Department of Finance website at http://www.finance.gov.ie/sites/default/files/draft%20terms%20of%20reference%20.pdf. I have also invited and received feedback from and engaged in consultation with various Deputies on the draft terms of reference in advance of their submission to, and discussion in, the Dail. The terms of reference will be laid before the Houses today for discussion this evening.

Question No. 354 answered with Question No. 342.