Oireachtas Joint and Select Committees
Tuesday, 9 March 2021
Public Accounts Committee
Strategic Banking Corporation of Ireland: Financial Statements 2019
9:30 am
Mr. Ian Black:
There is no decision. We are funding ourselves from other banks, including the EIB, and lending to on-lenders but only to the extent that they are lending to SMEs. We are not funding the banks for their own purposes. It has to be used for eligible purposes to fund SME loans. The benefit of the cheaper funding we get from others is being passed on to the SMEs.
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