Charles Flanagan (Laois-Offaly, Fine Gael)
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Question 222: To ask the Minister for Finance the nature of the investigation under the direction of the Financial Regulator into certain matters at Anglo Irish Bank, in particular the loans issued by the bank to its directors; the terms of reference of such investigation; the time scale involved; and if he will make a statement on the matter. [4462/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Financial Regulator is examining issues that have arisen in Anglo Irish Bank including where loans were made to former directors. These issues span a considerable period of time are complex and it will take time to investigate them fully. The Office of the Director of Corporate Enforcement is also investigating this and related matters. In order to ensure that the investigations of these issues proceed in a seamless manner and that all relevant information is shared, the Financial Regulator is working closely with the ODCE as appropriate.

As you will appreciate, some of the issues may lead to further action and in these circumstances, it is not appropriate for me to comment in detail on specific issues without the risk of prejudicing the outcome of the investigations.