Written answers
Tuesday, 15 June 2010
Department of Finance
State Banking Sector
8:00 am
Joan Burton (Dublin West, Labour)
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Question 170: To ask the Minister for Finance the reason Anglo Irish Bank website advertises under the heading Business Banking, that at Anglo Irish Bank we understand your business needs; we provide clients with the following services: Corporate Lending, Asset Finance, Film Finance, International Trade and so on (details supplied) in view of the fact that in 2009 Anglo Irish Bank entered into a subscription agreement with the Government which, in line with EU guidance, required that all new lending was to be solely to the Bank's existing customer base, to be confined to amounts which were previously committed or approved to protect asset quality and to be aimed at reducing overall risk to the bank; and if he will make a statement on the matter. [25463/10]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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As the Deputy is aware under the Relationship Framework the day-to-day operations of the bank are the responsibility of the Board of Anglo Irish Bank. In view of this it is the responsibility of the Bank to ensure that the content on the website is regularly reviewed and changed in response to the changing business environment facing the Bank.
Some of the content highlighted by the Deputy has been amended to reflect the changed circumstances of the Bank. This process is continuing with the objective of accurately reflecting the Bank's position as it now stands and is expected to be completed shortly.
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