Oireachtas Joint and Select Committees
Thursday, 20 April 2023
Public Accounts Committee
2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed)
9:30 am
Mr. Gabriel Makhlouf:
I am answering the Deputy's question. The process of cleaning up the balance sheet ranged from restructuring the loans of individual borrowers to actually selling the loan to someone else. The focus of the Central Bank was to make sure that at the end of the day the rights of the borrowers were protected and that they were in the same position whether the lender was a non-bank or one of the banks.
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