Oireachtas Joint and Select Committees
Thursday, 28 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Eoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source
And following that inspection in September 2007, two high priority findings came back in relation to one institution, but there were several medium priority findings, and I'm reading here from the Honohan report page 70.
The second medium-priority finding was that "The inspectors noted that some estimates provided to the inspectors as to the overall indebtedness of Group exposures appeared to differ significantly from data available to the inspectors." In one debtor connection alone in one of the banks, the banks were off by €1 billion. So they had miscalculated the indebtedness of one of their borrowers by €1 billion and your inspectors found that out. So what did you do after you learnt that information?
No comments