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

Sure. Can I take you to Vol. 2? And we'll start with page 63. Now, the initial report here predates your period, it relates to 2003, but I just want to highlight a couple of issues where at the bottom of page 63, "In 10 [...] of [the] 12 files [examined - this is on the issue of security underpinning loans] no letter from the bank's solicitor confirming that security was complete is evident".

And it goes through various examples where no solicitor's letter confirming security being present and then the explanations were the verbal confirmation in many cases had been received and the documentary evidence had been requested from the solicitor after the loan had been issued. Now, as I said, that was 2003. If you keep going to page 67, at the bottom of that - this is January 2007 - it references, "The previous audit report on Banking Ireland in 2005 highlighted cases whereby advances were made on the receipt of verbal rather than written confirmation from the Bank's solicitors." So, clearly the issues identified in 2003 continued in 2005. Now you were on the audit committee at that time. Do you recall these difficulties?