Oireachtas Joint and Select Committees

Wednesday, 27 September 2023

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

General Banking Issues: Discussion

Mr. Brian Hayes:

I presume that lending institutions followed the certification given at the time in the same way as for the final drawdown of loans through staged payments from a bank to a new build would require certification at all stages. The problem in this case was the certification around the actual construction that occurred. It is some historical problem that has landed, unfortunately, the way it has.

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