Central Bank will not file report over Anglo tapes

Written By Unknown on Selasa, 24 September 2013 | 22.40

The Central Bank said it would not file additional reports to the authorities following a review of phone calls recordings from Anglo Irish Bank, which were published by the Irish Independent.

In a statement, it said it had not identified any new issues relating to suspected criminal offences after an examination of the bank's interaction with it during the financial crisis.

As a result it said it was not obliged, nor did it intend, to make any further statutory reports to An Garda Síochána or the Office of the Director of Corporate Enforcement.

The Irish Independent published details of taped recordings between Anglo executives earlier this year, which the Central Bank subsequently examined to see if they had deliberately misrepresented the bank's financial position.

The tapes showed David Drumm, then-chief executive of Anglo Irish, saying he would demand "moolah" from the Central Bank.

Another executive was taped singing a pre-war verse of the German national anthem as they discussed money flowing in from Germany after the Government guaranteed the banks.

Bankers on the tapes apologised for the tone of the comments, but denied any wrongdoing.

Anglo eventually cost taxpayers some €30 billion during the financial crisis, almost one-fifth of the country's annual output.

Three former executives will go on trial next year.


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