Loan books under close scrutiny from Financial Regulator

THE Financial Regulator has confirmed that an examination of the loan books of the six financial institutions that are due to sign up to the Government’s guarantee scheme is already under way.

A spokesperson for the regulator said the audit, which was being carried out by Pricewaterhouse-Coopers, had already commenced in advance of the state’s rescue plan for the banks being announced last month.

The exercise could be completed before the end of October.