Dáil Éireann Debate, Thursday - 14 December 2017
119. Deputy Michael McGrath asked the Minister for Finance if following their appointment the special liquidators of IBRC changed the interest rates being charged by the bank on commercial loans; and if he will make a statement on the matter. [53784/17]
Amharc ar fhreagraI am advised by the Special Liquidators that in certain circumstances there would have been a change in interest rates on commercial loans following their appointment. However, any change in interest rate on commercial loans could only be sanctioned by the credit committee of IBRC. Any such changes would have to be recommended by the case staff before being considered by credit committee. The credit committee would then consider all relevant factors, including the financial position of the borrower, when determining whether a change in interest rate margin was approved.
