Oireachtas Joint and Select Committees
Thursday, 10 May 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking Sector: Quarterly Engagement with the Central Bank of Ireland
9:30 am
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
When Ulster Bank closed services to its customers in 2012 or so, it went on for six weeks and the fine was €5 million. I think that speaks volumes. Now we see that money has disappeared completely from people's accounts. I imagine that there will be an investigation and, hopefully, there will be a response at the end of it. Can I put a specific question that was put to me by customers of Ulster Bank last Monday - not Monday gone, which was a bank holiday, but the Monday before that? I am informed that Ulster Bank's IT system believed it was a bank holiday even though all the branches were open and as a result of the IT system believing it was a European bank holiday, transactions did not go through. For example, mortgages that were being called for by a bank to Ulster Bank did not actually happen.
Is the Central Bank aware that that happened on 30 April?
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