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

Mr. Regling mentioned in terms of alarm bells that banks should have known the concentration of commercial property lending. Mr. Regling’s late colleague, Max Watson, also mentioned when he was before the finance committee in 2010 that supervisors should have known. When one has a bank, for example, Anglo Irish Bank, that has 50% of its Irish loan book lent to 20 individuals, what type of alarm bells should have sounded and what should have been the reaction? Is it acceptable to not sound those alarm bells given the knowledge that Mr. Regling believes that the banks knew about the concentration of lending and that his late colleague believed that the supervisors would have also known?