57 Mr. Taylor asked the Minister for Finance if he will make a statement regarding the serious allegations in the "Today Tonight" programme on 21 February 1990 that no adequate financial controls or inspections were carried out on Merchant Banking Limited up to its liquidation resulting in losses of £4 million savings of small depositors and the undermining of financial stability; if he will allay public concern in this matter; if discussions with the Central Bank are to take place with the possibility of introducing a compensation package for the small investors who lost their savings, in the same manner as the Central Bank organised for Allied Irish Banks following the collapse of the Insurance Corporation of Ireland.

Summary

57 Mr. Taylor asked the Minister for Finance if he will make a statement regarding the serious allegations in the "Today Tonight" programme on 21 February 1990 that no adequate financial controls or inspections were carried out on Merchant Banking Limited up to its liquidation resulting in losses of £4 million savings of small depositors and the undermining of financial stability; if he will allay public concern in this matter; if discussions with the Central Bank are to take place with the possibility of introducing a compensation package for the small investors who lost their savings, in the same manner as the Central Bank organised for Allied Irish Banks following the collapse of the Insurance Corporation of Ireland.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Ceisteanna — Questions. Oral Answers. - Banking Institutions.

  xml · EN · 14 March 1990

  ViewDownloadOpen at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.