Oireachtas Joint and Select Committees
Wednesday, 22 April 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Brendan McDonagh:
No. I mean, the banks clearly had strong views on the valuation process and I suppose that was normal. They were trying to protect their stakeholders. But the reality is that the valuation model that was done for the loans was one which we had commissioned HSBC to advise us on. And ... but that model then went to the European Commission technical people and they basically decided what the final valuation model would be.
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