Oireachtas Joint and Select Committees

Wednesday, 21 May 2025

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach

Dissolution of National Asset Management Agency: Discussion

2:00 am

Mr. Brendan McDonagh:

When we acquired the loans, we merged all the loans of the debtor together. We did not associate them with individual banks, we had to group them together. That was part of the accounting reality under the accounting rules. We never went back and traced them because that would have been an almost impossible job. Some people borrowed from the five institutions that came in and others borrowed from three.

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