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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: So there are three full-time staff members and approximately seven reviewers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: What is the total number of staff at the moment? Can I have a number?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: Is it ten including the full-time staff members?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: What is the annual budget?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: As far as Mr. Trethowan is aware, are banks advising clients that they have an option to go to the Credit Review Office?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: Is it a statutory obligation?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: But it is not statutory.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: I will leave it at that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: That is something to change. I shall return to the figures quoted by Mr. Trethowan regarding lending. The banks were required to provide €8 billion for lending in 2012.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: Mr. Trethowan told me that out of that sum, €2.5 billion was new lending and, effectively, €4.5 billion was for restructuring. Does that €2.5 billion represent approved or drawn-down lending?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: Was it drawn down?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: Does Mr. Trethowan know the figure that was drawn down?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: The banks have contracted SME lending, from what we can see here, by €2 billion. They may even have contracted it by more because it may be sanctioned lending rather than drawn-down lending. Does the Credit Review Office analyse the figures in depth with the banks? I ask that it do so. The banks have been before the committee and the representative of Bank of Ireland told us that...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: That is €4.1 billion versus €2.5 billion. Someone here is not telling us the facts and I ask the Credit Review Office to go to the banks.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: Is that within the €2.5 billion?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: That is not new lending.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: May I ask a final question? I ask Mr. Trethowan to examine those figures in depth. Obviously that has not happened. Restructuring an overdraft into a term loan is not new lending.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: How much of the €2.5 billion is new lending that was drawn down?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: Mr. Trethowan said that some of it was overdraft restructuring.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Kieran O'Donnell: That is not new lending but new overdrafts.