Oireachtas Joint and Select Committees

Thursday, 13 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: Ulster Bank

10:45 am

Mr. Jim Brown:

The foreign exchange and LIBOR issues are a matter for RBS, not Ulster Bank. We are not part of those discussions. We do not operate FX trading as such or LIBOR in this market. RBS has been very clear that it does not endorse that behaviour. There has been a huge focus within the bank on changing the company’s values in order that this sort of thing does not happen again.