Marc MacSharry (Fianna Fail) | Oireachtas source

Okay. In a letter dated March 2008, regarding the inspection of commercial property lending exposures, the Financial Regulator states the following under the heading "Credit Risk Management":

The Financial Regulator has raised issues relating to INBS' risk profile and credit risk management over a number of years. Our letter of 9 December 2004 set out our concerns regarding the significant shift in the nature and risk profile of INBS' business towards commercial property lending.

In the same letter the Financial Regulator continues to outline similar concerns raised in '06, '07 and '08. Can you provide an insight into the INBS board considerations of the Financial Regulator's inspections and why no apparent effort was made to address the concerns to the satisfaction of the regulator of the years?