Oireachtas Joint and Select Committees
Wednesday, 25 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Marc MacSharry (Fianna Fail)
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What circumstances, if any, would need to have been in place where the standard would have allowed the value of loan assets to be written down, with losses reflected by the banks? It is clear from Professor Walsh's opening statement there were limitations on IAS No. 39 in that regard.