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Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

...bank would have an agreed fee that they would pay the values, which to do a valuation for a house, for instance, could be somewhere in the region of €100 to probably €120 to €130 to maybe €150. So that the bank ... the valuer would know that every time they do an evaluation, they will get so much money for it. On bigger properties, there will be fees and...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Mr. Liam Kelleher: It would have been of the order of €5 million or €6 million in total.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Joe Higgins: Yes, €5 million or €6 million. Mr. Alan Ahearne, in evidence to the inquiry, said, "In a study I wrote with ... former colleagues, which was published on the [United States] Federal Reserve's website in September 2005, we identified no fewer than 44 episodes of house price booms and busts in 18 advanced countries since 1970."

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Mr. Tom Parlon: Well, I think, as my colleague said earlier, a lot of commercial exposure by banks was in buildings that had been maybe built for €20 million and been sold for €100 million based upon, sort of, the rising economy and so on. So in terms of ... if you take the other commercial in construction that happened in terms of either foreign direct investment, some of the...