134. Deputy Clare Daly asked the Minister for Finance his views on whether the incorrect valuation of loan assets is enriching wealthy hedge funds at the expense of small business owners, given that according to the Tomlinson report banks are deliberately closing down businesses and forcing small business owners to sell assets on distressed terms to favoured clients, including companies (details supplied); on the fact that a law firm has examined if an Irish bank is engaged in the same activities; on whether his assurances that banks are not systemically overvaluing assets are in direct contradiction of evidence to the banking inquiry in which bankers have admitted that by following International Accounting Standard 39 they are deliberately overvaluing assets. [16878/16]

Summary

134. Deputy Clare Daly asked the Minister for Finance his views on whether the incorrect valuation of loan assets is enriching wealthy hedge funds at the expense of small business owners, given that according to the Tomlinson report banks are deliberately closing down businesses and forcing small business owners to sell assets on distressed terms to favoured clients, including companies (details supplied); on the fact that a law firm has examined if an Irish bank is engaged in the same activities; on whether his assurances that banks are not systemically overvaluing assets are in direct contradiction of evidence to the banking inquiry in which bankers have admitted that by following International Accounting Standard 39 they are deliberately overvaluing assets. [16878/16]

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• Financial Services Sector

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