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- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: I thank the Senator. I just want to go back to an issue I raised before with the Governor. It concerned Anglo Irish Bank, latterly the Irish Bank Resolution Corporation, IBRC. What is the position now regarding this entity?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
Ms Derville Rowland: It has been resolved and does not exist now as an institution. If I am wrong about this, we will revert to the committee. The actual answer is that it was put into the IBRC.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: What role would the Central Bank have had regarding the IBRC? Was there any role for the Central Bank there?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: -----when the IBRC took over the assets or whatever was left of Anglo and worked it out, did the Central Bank then regulate it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: ...the Central Bank to play in the context of uncovering what actually happened and if there was wrongdoing. This matter still remains unresolved because the fact that Anglo Irish Bank folded up and IBRC is in limbo or wherever it is now means this issue cannot be got at in the context of those who approved the loan and paid the money, how this was sanctioned and so on. In dealing with the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: ..., though, that this happened and there was not a sufficient response from the Central Bank in terms of its regulation of what was certainly a bank, in terms of Anglo Irish Bank, and then of the IBRC, of which there must have been some oversight on the Central Bank's side of things. The central figures involved here are now elderly and they have been fighting this ever since it emerged. I...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
Ms Derville Rowland: My reticence to answer the question was because I wanted to give a completely accurate answer. I believe national legislation was passed, which nationalised Anglo into IBRC by operation of law and it became owned by the State - the Minister for Finance. I think also at the end it was Irish Nationwide Building Society and part of Anglo.