Oireachtas Joint and Select Committees

Thursday, 11 October 2018

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

Sale of Property Loans (Project Glas) By Permanent TSB: Discussion

11:30 am

Mr. Jeremy Masding:

I will summarise it. The message I want to get out is that the bank does not have a general discretion to remove loans from the transaction. It does not have a general discretion to include new NPLs in a transaction. Those are my first two points. The third point is that there will be a technical reconciliation before cash is exchanged. If errors are found they will be netted out of the transaction. That is the best way to summarise it.

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