Oireachtas Joint and Select Committees

Wednesday, 6 March 2019

Joint Oireachtas Committee on Rural and Community Development

Banking Legislation: Discussion

Mr. Kenneth Jordan:

Having followed through on the idea of opening the boxes and finding out what is in them, I am left wondering whether, if the original owner or the next of kin sought compensation, there might be an ongoing issue in respect of who would decide the appropriate level of compensation for the asset. As Mr. Dorgan said, it would be a good idea to look at what other jurisdictions do.

On the old money, my knowledge is limited but one would expect that no matter how the money is exchanged, inflation is most likely to have completely wiped out the value of anything that has been in a box for 100 years. I do not imagine the cash deposits would have a huge value in that respect.

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