Oireachtas Joint and Select Committees

Wednesday, 14 February 2024

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

Engagement with the Central Bank of Ireland

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

Okay. Well, I know a complaint was made to the Central Bank about a transaction that took place going way back to the time of Anglo Irish Bank. This concerned a loan that was transferred to private accounts instead of to the entity. This is where the loan actually ended up. The farmers involved in this matter made a complaint to the Central Bank but little or nothing came of it. I was looking at the papers during the last few weeks. The family involved in this case do not mind their names being mentioned but am not going to do so. I just want to cover the issue they had. Millions of euro are involved here. I raised this issue before, again in a general way.

I do know, though, that the family made specific complaints to the Central Bank about what had happened to them. Reading that paperwork now, it would seem to me that there was certainly a role for the Central Bank to play in the context of uncovering what actually happened and if there was wrongdoing. This matter still remains unresolved because the fact that Anglo Irish Bank folded up and IBRC is in limbo or wherever it is now means this issue cannot be got at in the context of those who approved the loan and paid the money, how this was sanctioned and so on. In dealing with the IBRC, the people who were part of the loan makeup were just told there was nothing to see there. As they are the people central to this issue, they can say, with authority, where the money was paid to, so they made the complaint to the Central Bank.

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