Written answers

Tuesday, 21 May 2013

Department of Finance

Banking Sector Issues

Photo of Pádraig Mac LochlainnPádraig Mac Lochlainn (Donegal North East, Sinn Fein)
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80. To ask the Minister for Finance if his attention has been drawn to the Ernst and Young Report commissioned by Irish Nationwide and uncovered by the documentary Inside Irish Nationwide; and if so, if he will publish the report. [23958/13]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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A report by Ernst & Young concerning Irish Nationwide Building Society was furnished to the Department of Finance. As the Deputy is aware, this report was produced at the request of the INBS Board. A copy has been provided to the Central Bank. A report has also been provided to An Garda Síochána in this regard.

However, I have been advised that given the on-going nature of the investigations by the Authorities, including in particular the investigation being conducted under the Central Bank’s Administrative Sanctions Procedure into historic lending practices at INBS, as well as internal considerations within the bank, the report cannot legally be published at this time. Publication of the report may be considered when the Central Bank proceedings are concluded or when any Garda investigation has been finalised (or any proceedings arising from such investigation concluded).

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