Brian Lenihan Jnr (Dublin West, Fianna Fail)

Clearly the regulator is completing the investigation into the two transactions referred to by Deputy Bruton. Some of the leaks of material about this matter may come from parties who have an interest in the outcome of the investigations being carried out by the regulator.

With regard to the Irish Life & Permanent transaction, I asked to meet the chairman and the chief executive last Thursday when the media reports appeared which suggested that the regulator had some prior knowledge or notice of the particular transaction of the back-to-back arrangement between Anglo Irish Bank and Irish Life & Permanent. When I met the chairman and the chief executive in the Department at lunchtime last Thursday after I left this House, they informed me there was no question of the regulator giving any prior approval or sanction or approbation to that transaction. The regulator is entitled to complete its investigations and bring the full facts to public light.

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