Oireachtas Joint and Select Committees

Thursday, 2 March 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Debt Write-down and Debt Resolution Policies: Allied Irish Banks

Photo of Mick BarryMick Barry (Cork North Central, Solidarity) | Oireachtas source

For the record, I believe that the information should be given to the committee today as to what is the total sum for the 90%. The bank has the figure, the bank is a publicly-owned bank yet it has chosen not to disclose the information to the committee today and I feel that it should disclose. I hear what Mr. O'Keeffe has said about the bank giving serious consideration to disclosing the information after the committee proceedings and I add my voice to the voices of the other Deputies in calling for that to be done. The number of 90% write-downs for those who owed €1 million or more should be provided as part of that.

Some interesting issues were raised about the socioeconomic profile of those who have received 90% plus write-downs. Deputy Tóibín asked for a breakdown of the figure in terms whether the people were developers, farmers or workers who had lost their jobs, which is a job that was referred to, etc. Again, that information is available to the bank but Mr. O'Keeffe feels that for reasons of commercial sensitivity that there may be an issue with disclosing the information today. I do not see how such information is commercially sensitive so can he please explain.

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