Oireachtas Joint and Select Committees

Thursday, 20 December 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Contribution of Public Interest Directors in Financial Institutions: Discussion

10:35 am

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

It is in compliance now, but for two years, while Mr. Walsh sat on the remuneration board, the bank was in complete breach. The Bank of Ireland paid more than €66 million in bonuses to employees in complete breach of the direction of the guarantee that was given to the Bank of Ireland. The State fined the bank €2 million as a result of breaching that agreement and it lied to the Minister for Finance when providing information for a parliamentary question. Mr. Walsh may not have been responsible in regard to the parliamentary question but in relation to the remuneration-----

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