Financial Regulator issues report on directors’ loans procedures at six Irish financial institutions covered by the State Guarantee Scheme
Mar 3rd, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Financial Regulator today published its Report into the Examination of Loans to Directors and connected parties at six of the Irish financial institutions covered by the State Guarantee Scheme for the period December 2005 to December 2008. This review followed the discovery of the removal and reduction at year-end of a director loan at Anglo Irish Bank. It was aimed at discovering if any of the covered institutions were reducing loans at year-end to avoid disclosure in their financial statements.