Oireachtas Joint and Select Committees

Wednesday, 26 February 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Sale of IBRC Mortgage Loan Book: Discussion

4:40 pm

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Okay. The number of customers would be slightly smaller than that. The customer could have two accounts in some cases. I would also like to ask about development bonds for residential developments that the IBRC held at the point of liquidation. Have the liquidators quantified the cumulative value of those bonds? How many such bonds exist? I know this has been raised in the House during a Topical Issue debate. Parliamentary questions have also been asked. The liquidators are in discussions with the Department and the local authorities. I am not sure we have a handle on the potential exposure of local authorities for bonds in respect of unfinished developments.

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