Oireachtas Joint and Select Committees

Thursday, 14 December 2017

Public Accounts Committee

2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation

9:00 am

Photo of David CullinaneDavid Cullinane (Waterford, Sinn Fein) | Oireachtas source

I am trying to tease out where exactly that money was spent. This goes back to what I was saying earlier. As members of the Committee of Public Accounts, we are working from a report of the Comptroller and Auditor General that gives headline figures. Our job is to probe those figures and conduct a deep dive in terms of where the money went. There is a headline figure of €31.8 billion paid from NAMA to banks, essentially, to take bad loans off the banks' books. I am looking for a breakdown, in the first instance, of how much went to what banks, and the information is not to hand. I am also looking for a range of the value of those loans, and that information is not to hand. Why was that work not done in advance of today's meeting? Surely, Mr. Carville would have understood-----

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