Oireachtas Joint and Select Committees

Thursday, 13 April 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman

10:00 am

Mr. Jonathan Sugarman:

This means we still do not know how fast we are going. We might wake up tomorrow morning and discover that we need another blanket guarantee if we still cannot calculate. I believe that online there was further detail on this item in The Irish Timeswhich says that some of these calculations are being done manually. This is incredible: multibillion euro banks are doing their calculations of capital and risk weighted assets basically on the back of a coaster. People are feeding in numbers to spreadsheets and saying here is the figure. This is happening in Dublin today. What has changed?

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