Oireachtas Joint and Select Committees
Wednesday, 22 April 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Brendan McDonagh:
-----and will interest roll up on that again? And, you know, when the asset is sold, you'll get paid ... the bank'll get paid back its principal and get paid back its interest." And, you know, under IFRS accounting, Deputy, as you would well understand, you've got a loan which is accruing interest at 5% per annum, the interest is not being ... cash is not ... that 5% is not being paid, but it's being added on.