Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

Thank you, Chair. Mr. Corrigan. Could we put up the Corrigan core document, first one there, please, 002?

I've given a note to the ... Mr. Corrigan, this ... just, I want to draw your attention this, its page 118 in the document you have in front of you, Vol. 1, and its up on the screen as well, the last two paragraphs on that page please. If you can scroll her up ... yes. Little bit more please, yes, thank you, that's it. This relates to post-nationalisation of Anglo and the transfer of deposits, etc., to Allied Irish Bank and then from Irish Nationwide Building Society to Irish Life and Permanent. And as you see there to ... that AIB received €8.6 billion in Anglo deposits, purchased senior NAMA bonds with a nominal value of approximately €12.2 billion, and "AIB has also made a cash payment of €3.5 billion". And then, Irish Life and Permanent received INBS deposits of over €3.6 billion, "purchased Senior NAMA bonds and other bonds with a nominal value of €3.7 billion in addition to share ownership of INBS' Isle of Man subsidiary". IL and P also made a cash payment of €2.3 million. In so far as you can, Mr. Corrigan, recall that those procedures which, were carried under the Credit Institutions (Stabilisation) Act, could you just give us a picture of the type of sale process that was involved here, how it was approached, the bids that were received, the evaluation that was carried out and then the completion of the transactions, the deposit transfers, etc.?