Banks ordered to reveal bonus links to loans

Banks have been ordered to reveal full records of any links between bonuses for top officials and the volume of property loans during the boom as part of the State’s investigation into the economic crash.

The Oireachtas banking inquiry, which began last week, has told all seven institutions which existed at the time they must provide the information by February 3 or face potential “criminal” action.

The request — focussed on the 2001-2008 period — is outlined in a list of records being sought by the cross-party political body, which has been tasked with unravelling how the crash occurred and who was responsible for what happened.