Oireachtas Joint and Select Committees

Tuesday, 29 May 2018

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

Resolution of Non-Performing Loans: Discussion (Resumed)

4:00 pm

Mr. Adrian Varley:

It explicitly goes beyond accounting standards but the phrase is "but does not contradict them". We have had a lot of experience recently of accounting standards changing, International Financial Reporting Standard, IFRS 9, and there are grey areas, for example, the view of house prices in the next two, three or five years and that is part of the provision assessment. That is the level we are at.

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