Oireachtas Joint and Select Committees
Wednesday, 20 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Joe Higgins (Dublin West, Socialist Party) | Oireachtas source
Yes, then, I notice Mr. McDonnell, in your PwC half-year review, which is in the documents, page 19, there is grave concern expressed here in relation to that very point, the valuation of loans, of financial instruments. For example, in the middle of page 19, your people say, "In cases where prices are obtained in the market, but these prices are not based on actual trades, consideration needs to be given to the appropriateness of the prices." In the middle or to the latter end of 2007, isn't that raising a very, very serious question? And is there an implication here that there is a fear that there isn't adequate collateral for large loans?
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