Oireachtas Joint and Select Committees
Thursday, 10 September 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
Thank you very much. I am going to move to wrap things up. I just have two questions for you. We'll move on to some closing remarks after that and then, prior to that, I'll bring in the two leads. If I could just deal with one issue in regard to the sort of legacy issues at the moment and NAMA and debt, Minister Noonan, that NAMA took on board one third of all property-related debt. As a result, a substantial level of impaired property loans still remained on the balance sheets of AIB, Bank of Ireland, Permanent TSB, I think with something like €42.3 billion of impaired loans and impairment amounts to approximately, I think at present, €16 billion remaining at the end of 2013. Then we have the situation where the State, basically, still de factoowns AIB and Permanent TSB. How does the Government ensure that these difficult loans are dealt with appropriately and that there is no further substantial losses arising from these as the Irish citizenry tries to get its money back from these banks?
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