Oireachtas Joint and Select Committees
Thursday, 17 May 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Resolution of Non-Performing Loans: Discussion (Resumed)
10:00 am
Mr. Brendan Burgess:
I looked at the Central Bank figures and I could not make any sense of them. The Central Bank said that only 9,200 loans have been sold to vulture funds, but I knew that Danske Bank alone had sold 10,000 mortgages to a vulture fund called Proteus in October. I wrote to the Central Bank about that, asking how that squared up and mentioning that we also know all about the Irish Nationwide loans, among others. The Central Bank replied that the 10,000 accounts I referred to are not legally owned by an unregulated loan owner but rather by another institution, with the beneficial ownership being held by an unregulated loan owner. If I had a Danske Bank loan-----
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