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Banking inquiry to examine links between bonus pay and a surge in lending

The Oireachtas banking inquiry is to examine if there are links between lucrative bonuses and the...
Newstalk
Newstalk

09.19 21 Dec 2014


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Banking inquiry to examine lin...

Banking inquiry to examine links between bonus pay and a surge in lending

Newstalk
Newstalk

09.19 21 Dec 2014


Share this article


The Oireachtas banking inquiry is to examine if there are links between lucrative bonuses and the surge in lending which fuelled the property bubble.

The Sunday Business Post reports that banks will be forced to hand over information about their top ten bonus earners during the boom.

It is understood the inquiry has written to AIB, Bank of Ireland, Ulster Bank, EBS and Permanent TSB seeking the data - as well as the special liquidator for Anglo Irish Bank and Irish Nationwide.

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The paper also says that the inquiry also wants recordings made by the banks of staff conversations that relate to the 2008 bank guarantee.

It has also requested to see all minutes, notes and diary entries about the guarantee.

The Sunday Business Post says that any failure to comply with the inquiry could amount to a criminal offence.

The inquiry got underway last Wednesday and saw expert Peter Nyberg and former Canadian civil servant Rob Wright give evidence.

Mr Nyberg told the inquiry he did not believe anything new would be learned, compared to what he found in a report in 2011.


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