Oireachtas Joint and Select Committees

Thursday, 11 December 2014

Public Accounts Committee

Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013

12:30 pm

Mr. Seamus McCarthy:

My understanding is that the original amount of the bonds will be known in each case. It should not be impossible to total the amounts. What we do not know is how much of it will come back. What one can know is how much of it has been impaired at this stage. There are three points - there is the face value of the bonds, the impairment that has been processed by this date and, to be decided and determined in the future, the amount the liquidator will be able to surrender.