Oireachtas Joint and Select Committees
Thursday, 3 September 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source
Was there sufficient follow-up? I mean, if you look at, say, page 68 and 69, which, again, is from January 2007, there are various examples there. Page 68, "We noted 5 (out of 34) cases where items of security specified on the approved credit were either not put in place or were amended without appropriate writtenapproval." Across the page, 69, at the top, "Confirmations of Security[...] items on 7 (out of 34) accounts were still outstanding." I mean this was crazy practice.
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