Michael D'Arcy (Fine Gael) | Oireachtas source

If you turn the page Mr. O'Reilly, at page 4, and again I think this should be able to come up, it's an aggregate document. Minutes of the meeting of the IFSRA regulatory authority 2003 to 2004.

Supervision agreed at the November ['03] meeting to put in place a ... Task Force to address [the issue] of corporate governance and commercial lending that had arisen following [the discussion] with former executives of an institution. The results of this Task Force have not been seen. [And it follows on that in] December 2004 meeting that work had now been completed on putting in place appropriate reporting of consolidated large exposures in another large bank.

One of the criticisms that is ... that has come from some of the bankers was that, while they were aware of their exposure to individuals, the only people with the consolidated data with the authority to request the information on the large exposures of individuals across the banks and could have seen that multiple banks were exposed for multiple hundreds of millions, were yourselves.