Oireachtas Joint and Select Committees
Wednesday, 6 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Richie Boucher:
Well, first of all, I'm not an accountant, and in fact some members of the committee are accountants, but under the accounting rules you can have models for mortgage businesses and other businesses. You are not allowed to make loss estimates. It's an incurred model. So your provisioning is an incurred model.