45 Deputy John Paul Phelan asked the Minister for Finance when a mortgage is logged as an asset, if the bank also opens a liability account for it; the implications of that provision; the purpose of opening the asset book and the liability book for the same transaction; if a bank statement to a borrower is a full and true account of the bank’s affairs with that borrower; if a bank is asked to verify a claim of injury by presenting its accounts when a person does not repay a loan, if those accounts show a loss for the bank in regard to that person; does the bank lodge all account information into one broad client account or does it keep individual account in relation to each client; when a mortgage is taken out by a lender it is logged into the bank’s asset book; what is the specific asset that the bank is logging as theirs; what is the name given to the document that is created to record the sale of a bank asset; and who prepares the documents and what information it contains. [6991/12]

Summary

45 Deputy John Paul Phelan asked the Minister for Finance when a mortgage is logged as an asset, if the bank also opens a liability account for it; the implications of that provision; the purpose of opening the asset book and the liability book for the same transaction; if a bank statement to a borrower is a full and true account of the bank’s affairs with that borrower; if a bank is asked to verify a claim of injury by presenting its accounts when a person does not repay a loan, if those accounts show a loss for the bank in regard to that person; does the bank lodge all account information into one broad client account or does it keep individual account in relation to each client; when a mortgage is taken out by a lender it is logged into the bank’s asset book; what is the specific asset that the bank is logging as theirs; what is the name given to the document that is created to record the sale of a bank asset; and who prepares the documents and what information it contains. [6991/12]

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• Banking Sector Regulation

  xml · EN · 8 February 2012

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