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

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

Mr. Masding opened up his remarks by saying he is following the rules and directions of the bank's regulator. This was covered to a degree by Senator Kieran O'Donnell and I want to focus on the wording Mr. Masding used. He said that the direction from the regulators was very clear, that the bank must reduce the ratio of non-performing loans on its balance sheet to the European average, which at one time was 5% and now it is 3.5%. They never told Mr. Masding that.

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