Authorities had enough data to raise suspicions

THE Financial Regulator and the Central Bank had enough knowledge of the banking sector to arouse their suspicions about the dangerous threat unfolding in the Irish property sector, the latest report into the banking crisis concludes.

The Nyberg report says the Financial Regulator failed to grasp or understand the huge crisis that was in the making through excessive lending to the property sector during the boom.

Mr Nyberg, a former senior official in the Finnish government, said the risks were becoming clear from economic data in the public domain from 2005.