Why trust banks that don’t trust each other?

YOU report (October 15) that the Department of Finance has admitted its plans in relation to NAMA are based on “aggregate data which has been provided by the institutions”.

You also report an alarming fact that the department has not been able to “verify the integrity of the data” because “the NAMA team has not had direct access to individual transaction records and loan files”.

It is only a few months since inter-bank lending came to a virtual standstill because these very same banking “institutions” did not have faith in the data they were supplying to each other.