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

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9:00 am

Mr. Gary Hynds:

Those losses were crystalised over time. They did not just happen on the first day when NAMA acquired the debt. The loans would already have been non-performing before they came to NAMA. NAMA was obliged to value those assets.

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