Oireachtas Joint and Select Committees

Thursday, 7 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of John Paul PhelanJohn Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

Yes, I have one for Mr. Torpey, and it follows on from an area that was touched on by Senator MacSharry. Yesterday, following questions from Deputy McGrath on the matter of loan-to-deposit ratios, Mr. McCarthy indicated that there was an error in the 2007 figures, which was subsequently corrected. I just want to ask you, Mr. Torpey, what was the error? How did it occur? How did the figures end up being published as the final figures for Ulster Bank for 2007? You were, at that stage, still, as I understand it, the chief financial director, I think, was the title of your role within the organisation?

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