Oireachtas Joint and Select Committees

Wednesday, 13 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Patrick Davitt:

Yes. Well, there are two different things with the valuation standards. There's the valuation standards and the valuation methodology. The methodologies were always there which is the way the actual valuations are worked out. The standard is how it's written up. So just to ... sort of ... and I know probably people here maybe know more about valuation than I do but it's to ... to write it up ... to write up the valuation its written like a composition, I suppose. You know, there's a heading and there's a centre and there's a tail piece. So the standards would actually make the way the valuation is written - that's it's written in a clear and concise manner. But the valuation methodologies, that the way the valuation is worked on are always there and were always there and are still always there.