Oireachtas Joint and Select Committees
Thursday, 3 September 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
It's Vol. 2, page 27 and it's a transcript of public hearings that we had with Mr. Brendan McDonagh. And, NAMA, when they were before us, and in information that they provided, estimated that circa of around €9 billion of interest roll-up was included in loans transferred to it by five banks. €3 billion of it related to Anglo, and I'll just go to the testimony there. It was actually ... I think Deputy Higgins was speaking to Mr. McDonagh at the time, and Mr McDonagh says that:
I should add that that €9 billion [figure] was based on data which was given to the banks before NAMA came into existence, so it was based on information we got back in the summer of 2009. We estimated that [the] €9 billion was broken down as follows; AIB about just over €3 billion, Anglo Irish Bank €3 billion, Bank of Ireland €1.8 billion, INBS €1 billion and EBS €0.1 billion.
Could I ask you, were you aware of the level of interest roll-up in Anglo Irish Bank?
No comments