Oireachtas Joint and Select Committees

Thursday, 6 December 2018

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

Sale of Permanent TSB Mortgage Loans: Discussion

2:00 pm

Mr. Jeremy Masding:

The bank believes its origination documentation allows it to undertake the transaction. In isolation, I recognise what the Deputy is saying and ask him to allow me to come back to him so that I may check. From my perspective, the origination document is the governing document. I do not want to avoid the point that, as we discussed before, our NPR means that we must undertake this transaction. I will revert to the Deputy in a moment, but my opening comment is that the loan facility letter is the governing document which allows us to undertake this transaction.

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