Oireachtas Joint and Select Committees

Thursday, 5 September 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Financial Sector: Discussion with Permanent TSB

11:20 am

Mr. Jeremy Masding:

A banker's first duty within the machine is to ensure the bank's provisions models are run to create a level of stock of provisions that should it get to the end of a process where it is able at least to write off the debt. The Deputy is correct that the figure of €11 million is disproportionately small in terms of the bank's stock of provisions.

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