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

Mr. Des Carville:

I actually have that information in front of me as well. I think this is a really important point the Deputy is getting to. These are formal update meetings. In total, we have had 74. This reflects the work of the special liquidation. We must remember the liquidation started in 2013. This will not be an annualised figure, but I can probably annualise it in my head quickly. As one would expect, in 2013 there were 36 meetings because that was when all the activity was taking place. That was when most of the fees were being incurred. There were 18 meetings in 2014. The difference between 2013 and 2014 and then between 2015, 2016 and 2017 is that €21 billion par-value loans were sold over that period. This was the bulk of work. This was where all the activity was taking place in terms of liquidation. I believe it is entirely appropriate that we step back.

Comments

No comments

Log in or join to post a public comment.