Oireachtas Joint and Select Committees
Tuesday, 26 March 2019
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Central Bank of Ireland: Discussion
John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source
Okay. My last question is on another matter. The UK's Financial Reporting Council made a comment on calculating solvency. It said that the fourth directive requires that assets be valued on a prudent basis, but that this does not explicitly state that assets such as bank loans cannot be shown at above their recoverable amount or that all future expected losses should be recognised.
The witnesses will be familiar with that commentary. Does the Central Bank agree with that approach and is it something that is part of the industry?
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