Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I welcome Mr. Butler and Mr. Bush. I apologise for being late. I ask the Chair to let me know if I am repeating any questions that have already been asked so that I can desist. Mr. Butler has said that if non-performing loans, NPLs, had been valued correctly by the banks on their balance sheets there would have been no need to offload or sell them. Is it his understanding of the European Banking Authority, EBA's technical definition of an NPL that if loans are valued correctly or if the provision made for them is adequate they are not classified as NPLs on the bank's balance sheet?