John McGuinness (Carlow-Kilkenny, Fianna Fail)
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Okay. The other members who have spoken have asked for various information. May I request Mr. Mallon and Mr. Blair to provide an overview and the details requested by the members, including sight of the report by Mason, Hayes & Curran, if published?

I ask that Ulster Bank provide as much detail as it possibly can on this issue, including on the breakdown of the accounts that were transferred, performing loans versus loans that were in difficulty and so forth. I also ask the witnesses to revert to the joint committee with the specific information requested as quickly as possible.

The joint committee decided earlier to examine in more detail the global restructuring group and the businesses involved, of which there were 2,141. To do this, the committee wants to be properly informed by the banks. We are also seeking information from the Central Bank and other parties involved.

I will correct the witnesses on one issue before I proceed. They give the impression that the various businesses concerned contacted Ulster Bank to ask for money to purchase a commercial property and the bank simply gave the money to them. The businesses in question applied for a loan and the banks had a responsibility in that process to apply a stress test to the proposal. Mr. Mallon placed responsibility fairly and squarely on the person who contacted the bank for a loan. However, Ulster Bank gave the loan when it should have tested whether it was worthwhile to do so. The bank has a responsibility in this process, including to the 2,141 customers involved, notwithstanding that it dumped 1,800 of them into vulture funds. It is an incredible performance on the part the witnesses with respect to the questions asked by members. It is shocking that they do not know off the top of their heads the exact numbers and the general positions regarding these companies. The bank gave the same answer to Deputy Pearse Doherty on the 2,000 tracker cases it is examining. There is an urgency to this for the mortgage holders and the 2,141 businesses involved, behind which there are families and individuals. Mr. Mallon seems to have no care or respect for them, notwithstanding his words of comfort on how he is trying to rebuild the bank.

I ask the witnesses to provide the comprehensive information we are seeking as quickly as possible. I understand the transcripts of this meeting will be published within three days. I ask Mr. Mallon to read them and address every single issue in a comprehensive way in order that the committee can undertake a further review of this matter. I apologise for delaying Deputy Murphy.