The Central Bank of Ireland didn’t query a report on the liquidity of Anglo Irish Bank that David Drumm discussed with them in October 2008, a witness has told Dublin Circuit Criminal Court. In his evidence Mr Fox said he was aware of transactions between Anglo Irish Bank and Irish Life & Permanent but didn’t know the details and had thought they were customer deposits. She said the transaction was requested in an email from Mike D’Arcy, in Anglo Irish Bank’s Dublin office, whom she did not know. Mr Lynch said he understood that Anglo Irish Bank would give money to Irish Life & Permanent’s banking arm in return for receiving the same amount from Irish Life Assurance, which would improve Anglo Irish Bank’s corporate-deposit figures. Last week the trial heard that Mr Drumm accepts the facts of the 2008 transactions between Anglo Irish Bank and Irish Life & Permanent but disputes that they were fraudulent or dishonest.

Source: The Irish Times February 15, 2018 20:15 UTC