Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Thank you very much, Chair. Good evening, Mr. O'Reilly. Can I start by asking you about the valuation process that the banks would've undertaken? The Central Bank in a 2012 report, which I don't expect you to be familiar with, made the point that credit institutions were often negligent and imprudent in the manner in which they requested property valuations. Can I ask you to comment on that, that as part of the loan application process, when valuations of security, for example, had to be undertaken, did you observe any difference in the rigour applied to valuations sought by the Irish banks, and I know you dealt with a number of non-Irish banks, like KBC and Ulster, which is ultimately owned by RBS. Can you comment on that?