Written answers

Tuesday, 11 June 2013

Department of Finance

Banking Sector Investigations

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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154. To ask the Minister for Finance the office holders and former office holders who have access to or had access to the Ernst and Young report on Irish Nationwide as discussed in the RTÉ documentary Inside Irish Nationwide. [27327/13]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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Both I and the last Minister for Finance have had access to an Ernst & Young report concerning Irish Nationwide Building Society that was furnished to the Department of Finance.

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).

I have been informed by the Central Bank that the investigation into Irish Nationwide is on-going. Until the investigation has concluded, no decisions may be made as regards any future potential action.

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