Oireachtas Joint and Select Committees

Tuesday, 27 March 2018

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

Overview of Operations: Strategic Banking Corporation of Ireland

2:00 pm

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

At our next meeting, could Mr. Ashmore give us a breakdown of the names on the board, those on the SBCI selection committee and any other committees the SBCI might be running and a breakdown of debt, non-performing loans and so on? To return to a question asked by Deputy Pearse Doherty, can Mr. Ashmore give us the list of companies with which the SBCI is dealing and tell us how each of those companies have ticked the boxes relative to the moneys they have received? It was Mr. Ashmore who brought up the names of the companies in terms of First Citizen, FEXCO, Bibby Financial Services and so on. I ask him to give us as much detail as he can in order that the committee can determine the standard of the SBCI's governance. It would be similar to the slides he gave us here today, except it would have far more detail. I think Mr. Ashmore can liaise with the clerk with regard to that if he so wishes.

What I am thinking of is whether any of the companies the Strategic Banking Corporation Ireland, SBCI, deals with have a special purpose vehicle, SPV, the equity, the business plan, the working capital, the amount approved, the amount drawn down, the amount paid back and when a dividend is likely to be paid to the State. I would like those questions answered relative to each of the companies with which the SBCI is dealing.

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