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

Some of the contents of that Central Bank statement are extraordinary, and I would just put it to you, Mr. Walsh, that elements of it at least are backed up by the contents of the core book list that we have. I mean, if we look at the Deloitte report, for example, of May 2008, Vol. 1, page 51 ... or 71, in terms of the overall booklet, "No Credit Committee approval was present on a number of reviewed files [...] In many cases the Commercial Loan Application was approved by only one member of the Credit Committee, while at least two members are required under the terms of reference". Page 73, "In a number of instances no Board approval could be located [...] for loans which, according to the lending policy in operation [...], would have required Board approval." So, I mean, the Central Bank report didn't just appear out of nowhere from thin air. I mean there are-----