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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: Are people who have lost their homes because of the situation they were put in with tracker mortgages being compensated on the basis of a new home being provided?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: Have there been any incidents in the bank in which somebody who has lost his or her home because of the tracker mortgage situation has taken his or her own life?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: Since the last time AIB was before the committee, part of it was sold off. I want to get an idea of the state of play with that at the moment. Can Mr. Byrne confirm what percentage of the bank is now State-owned?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: Do sovereign wealth funds currently own part of AIB?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: Which sovereign funds are they?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: Do any of them own more than that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: So it is a secret.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: Do the witnesses believe that it was because the bank was sold off so cheaply, it was a State asset which was being sold off, that these foreign funds were so eager to get in and buy our own State asset?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: What percentage was bought by Irish investors?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: Can Mr. Bourke tell us who they were?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: In the months leading up to the sale, or the 12 month period before that, how many loans did AIB sell off to third parties?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: How many households did that involve?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: How does that compare to the 12 months before that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: It was higher in the lead-up to the-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: What is now the value of the shares which were bought for €3.4 billion? The overall value of the equity is €13.1 billion. That is 100%. The State's holding is today worth €9.3 billion. The difference between the two is the value of what was sold.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: So the value of the shares which were sold off was €3.4 billion.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: What are they worth today?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: It is €4.80. Somebody has made a tidy profit. Is the bank continuing to sell residential loans to vulture funds?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: Is it residential loans which the bank will be selling off?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Rose Conway Walsh: That accounts for the majority of loans which the bank resolves, but is AIB selling houses that are the subject of non-perfoming loans, in which people are living right now, to vulture funds?

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