Oireachtas Joint and Select Committees

Wednesday, 4 September 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Financial Sector: Discussion with Ulster Bank

2:55 pm

Mr. Jim Brown:

We have a policy of no debt write-downs as part of a solution. As we commented earlier, as we work through a case and there may be a shortfall once the process has completely exhausted, the bank from an accounting perspective may need to write off that loan. The reality is that there have been relatively few cases of that so far because we only recently got the tools to enable us to address the issue.

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