Oireachtas Joint and Select Committees
Thursday, 17 November 2022
Public Accounts Committee
2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund
9:30 am
Mr. Des Carville:
It is a very interesting question. The answer, unfortunately, is very long but I will try to make it short. There are a huge number of variables that go into the valuation of any of the banks on any day. In particular, there is the outlook and the interest rate environment, and we are seeing the interest rate environment have a massive impact on the valuation of the banks right across Europe, including on our own stakes. There is also the competitive environment and the quality of staff.