Oireachtas Joint and Select Committees
Thursday, 13 November 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Overview of Banking Sector: AIB
1:00 pm
Mr. David Duffy:
It is extraordinarily high relative to ten or 15 years of boom. If one was to take a mature and conservative view, one would be talking about that figure. When we look at our funding rates - at what we can borrow in the market - we see that the sovereign for 15 years is at a rate of 2.5%. We are not borrowing at ECB rates but at these rates. We have to add the cost of risk and running the bank.