Oireachtas Joint and Select Committees

Thursday, 28 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Michael D'ArcyMichael D'Arcy (Fine Gael) | Oireachtas source

You didn't. Mr. McLaughlin made the point about Anglo Irish Bank, a mono-line bank. The figures that were given were 82% commercial real estate sector, 1% residential, 17% corporate lending. And that bank had nothing to do ... had 1% residential, and yet that bank cost the taxpayers of this State €30 billion or thereabouts. What I'm asking you, Mr. Neary, is why, with the information that was available to you, sector specific, you had the powers to call ... to request the information on the top number of exposures per bank. You could have cross-referenced that to see that the ... that some developers were cross-securitised, cross-collateralised with other institutions ... the institutions did not have that information available.

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