Oireachtas Joint and Select Committees
Tuesday, 29 May 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Resolution of Non-Performing Loans: Discussion (Resumed)
4:00 pm
Mr. Adrian Varley:
They were legally required to look at all available information. Even before the realisation that someone stops paying, the firm must use its estimate for what it thinks it will get. A number would be put in. I was speaking earlier about the uncertainty around the number. In the past the firms were too optimistic and now we are saying they should be conservative.