Oireachtas Joint and Select Committees

Thursday, 23 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Sean BarrettSean Barrett (Independent) | Oireachtas source

Vol. 1, thank you Chairman. As that's being sought, it refers to a board discussion, AIB's exposure to the broad property building construction sector, amounted to 260% of own funds, while the limit was 250%. And let me go on, the board requested that this issue be pursued with the IFSRA, given that the standards clearly required revision. Is that me saying I was speeding but the speed limits were wrong, kind of ... you know or ... it's a pretty strange attitude to the regulator that you assumed that at the board level, the regulator was at fault.

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