Letter said Bank had no knowledge of Ansbacher

The Central Bank had no knowledge of the Ansbacher accounts before their existence was disclosed by the McCracken tribunal, the Bank's governor has told the Minister for Finance.

This was revealed by Mr McCreevy, who said Mr Maurice O'Connell had written to him, on his own initiative, on February 9th, following an editorial in The Irish Times on February 7th. He understood, he added, that a copy of the letter had been provided to the Moriarty tribunal by the Bank.

The Labour spokesman on finance, Mr Derek McDowell, said he was completely bewildered by the contents of the governor's letter.

"It does not seem to address at all the information that has since come to light at the tribunal."

He asked Mr McCreevy if he was satisfied the letter sat comfortably with the information he had previously been given by the governor relating to the Bank's stated knowledge about the Ansbacher accounts.

"Is the Minister satisfied that he has not inadvertently misled the House?"

Denying that he had misled the House, the Minister said he had read into the record what had been sent to him.

He had been advised by the Attorney General's office that it would be inappropriate for him to seek to clarify or explain the Central Bank's position or to appear to be taking sides.

"The Central Bank has been at the tribunal since the last parliamentary question, and it may be there again, so we should wait to hear the final deliberations of the tribunal."