Oireachtas Joint and Select Committees

Wednesday, 6 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Richie Boucher:

Well, first of all, I'm not an accountant, and in fact some members of the committee are accountants, but under the accounting rules you can have models for mortgage businesses and other businesses. You are not allowed to make loss estimates. It's an incurred model. So your provisioning is an incurred model.

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