Oireachtas Joint and Select Committees
Thursday, 9 May 2019
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Matters Relating to the Banking Sector (Resumed): Ulster Bank
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
I wish to ask questions similar to those asked by Deputy Michael McGrath on provisioning on foot of the tracker mortgage scandal. I assume the bank has a requirement to provide for the Central Bank fine. The witnesses are very clear that, so far, the bank wrongly took €95.54 million from its customers' accounts without their knowledge for many years. It kept that money from them and has only recently given it back. We all agree that the bank is going to be fined. Is it not the case that it has to make provision? Otherwise it would not be furnishing accurate accounts.
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