Joan Burton (Dublin West, Labour)
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Question 186: To ask the Minister for Finance when his attention was first drawn to, or when the possibility was first flagged to him, whether formally or informally, that the Financial Regulator had concerns about issues of governance at Anglo Irish Bank; and if he will make a statement on the matter. [6315/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I presume the Deputy is referring to the issue of loans to directors at Anglo Irish Bank. In December 2008, I enquired about the level of director's loans at Anglo compared to other financial institutions. The Financial Regulator informed me at that time of the movement of the former Chairman's loans to the Irish Nationwide Building Society prior to Anglo Irish Bank's year end and the practice in this regard over the previous 7 years. My Department was aware as a result of the PWC report of the movement of funds both to and from the Irish Life and Permanent group, again at the end of the accounting year end. This was referred, as a prudential issue in the first instance, to the Financial Regulator to be investigated. All of these issues are currently subject of investigations by both the Financial Regulator and the Office of Director of Corporate Enforcement.