Oireachtas Joint and Select Committees

Wednesday, 9 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

All right. I'm going to ... I'm referring to three different documents but I'm just going to bring up two pages as examples of them. One is regard ... they're all in Vol. 1. One deals with risk appetite, the other one's minutes of risk and compliance meetings and the other one is an extract from the loan review summary. So in core book Vol. 1 there, I'm just bringing up on the screen ... I think it's page 97 if I can just have a look at it there ... page 97. If we just to go to the bottom of that page there, Mr. Browne, it says:

Residential development accounts for 67% of development overall. Exposure [of] zoned land without planning primarily related to the Bank's Top 10 customer relationships with whom the Bank has a long and satisfactory track record [and] It was noted that the exposure to the unzoned land was not significant.

And then I'll just go on to page 101 in the same book and we might just leave this one on the screen then afterwards. If you go to 101, and it's the second table down there where it gives a breakdown of the areas of the exposures, I'm assuming that sum on the left is €10 billion, is it ... €10 billion and €600 million ... on the left, yes ... is that €10 billion?

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