Oireachtas Joint and Select Committees

Wednesday, 6 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour)
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Not the highest; some banks went up to 63%.

Could you offer possible explanations for such a high figure and why it was not reflective of the bank's provisioning policy up to the time of NAMA acquiring the loans? Quite simply, you had these loans valued at one figure and when NAMA got sight of them, it came out completely different.