Former CEO of the Irish Bank Resolution Corporation, formerly Anglo Irish Bank, Mike Aynsley with the Anglo sign on Stephen’s Green

RTE reports:

“New data shows that a total of 166 Irish Bank Resolution Corporation commercial loans accounts were charged an interest rate of less than 1%. In a written reply to Fianna Fáil finance spokesman Michael McGrath, the Finance Minister said IBRC’s Special Liquidators confirmed that accounts with a rate of less than 1% were mainly related to distressed loans.”

“This was where the loan was restructured or where the borrower was in the liquidation or administration and the prospect of any future recovery was “remote”. Today’s data from the Finance Minister also shows that 920 accounts at the bank were charged a rate of between 1-1.99% on their loans. These loans amounted to €399m.”