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MORE THAN 1,000 loans given by the IBRC came with interest rates of less than 2%, new information has shown.
It has been shown that 166 loans by the IBRC had an interest rate of less than 1%, while a further 920 loans, with a collective value of €8.6 billion, had an interest rate of between 1% and 1.99%.
This covers 40% of commercial loans owed to the IBRC and relates to the time when the special liquidator was appointed to the bank.
This information comes in response to a parliamentary question asked by Fianna Fáil’s spokesperson on economics Michael McGrath to Finance Minister Michael Noonan.
The information provided gives an overview of the €22 billion in loans owed to the IBRC when the special liquidator was appointed in February 2013.
In a statement on the findings, McGrath said, “It is striking that €9bn of loans – over 40% of the total – had an interest rate of less than 2%.”
On the face of it, the interest rates seem to be extraordinarily low and it will need to be established whether these rates relate to historic loan agreements entered into by the old Anglo Irish Bank or whether they reflect decisions made by management since the bank was nationalised in 2009.
The Cork-based TD went on to say that many mortgage holders (who generally pay between 4% and 5%) and SMEs (who find themselves paying as much as 7% or 8%) would find these rates “mouthwatering”
The matter has been referred to Judge Daniel O’Keeffe who is chairing the commission of investigation into the IBRC and whose duties include examining any preferential interest rates that might have been given.
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3/10 not to bad considering I wouldn’t watch a film with him in it!
@Daniel Kelly: but you’d do a quiz about him ha.
@Daniel Kelly: yes you would, you’ve just too cool to admit it and haven’t got through the Wahlberg collection yet!
@Seaniecp: I done a quiz he just happened to be in it?
@ThatLJD: Wahlbeeg in Shooter is good!
@Daniel Kelly: haven’t seen the rest of the shooters he spawned I take it. Listen you stick to marky mark and the funky bunch and leave real world stuff to real people.
@ThatLJD: Well said! I will try my best oracle…..
@Daniel Kelly: ha, you know it’s true buddy! Shooter, the original, wasn’t horrendous, the others were!
@Daniel Kelly: dogma is brilliant
“Affleck was the bomb in phantoms yo”. If you know you know. :)
@longhandle: what a movie!
My first 10/10 on a Journal quiz and not one guess. Shame on me.
@Larry Whack: I’m scarlet for ya bro
@Larry Whack: Well done
Argo f… Your quiz. Best line in any of his movies! The over eating man’s Val Kilmer of a batman!
@ThatLJD: I concur.
Argh 9 out of 10 not reading the questions… at this stage I think I can make out their way of placing the answers! So close!
@Declan Edward: i got the same, i just got the paycheck question wrong i chose changing lanes
@Pauline Gallagher: same
Gone baby gone is a brilliant movie
@Brian Dunne: no its not.
@Stan Kowalskis: yes it is
@Brian Dunne: it really is. Turns out he’s a better director than actor.
@Dave O’Keeffe: yeah really enjoyed the town and argo also.
Not well at all – thank God
9…….guess I really do watch WAY too many movies
That was a poor quiz subject lads
@Mike McGann: We had Matt Damon a few weeks back, so it was the natural progression of things.
Was this the guy who said if you criticise ISIS you are a racist?
@Pat Coyne: he never said that pal
have your say