Oireachtas Joint and Select Committees
Thursday, 11 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Brian Patterson:
Yes, yes. Where they discovered late in the day that net worth statements were very flaky. They either didn't exist in some cases or they hadn't been independently verified and that some of the tests that the banks were believed to be applying to loan requests weren't being applied. So in other words, the ground on which that was based was very shaky.
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