An examination of loans to directors in banks has found no evidence that loans were removed or reduced at the end of the year to avoid disclosure in financial statements.
The report found that the largest loan to a director not disclosed to the Regulator was for €148,000. However, a loan of €11.3 million to a "connected party" was also not disclosed and some 10 per cent of disclosures signed by directors were incorrect, the report said.
The Report on Disclosure of Director's Loans in Covered Institutions, issued today by the Financial Regulator found that none of the directors' loans was impaired, in arrears or otherwise non-performing for the period 31 December 2005 to 31 December 2008.
The report followed controversy over loans given to Anglo Irish Bank directors.
The report said there was no evidence of loans, other than loans that are available to all staff members, such as staff mortgages, that were issued with preferential terms.
Furthermore, all of the directors loans reviewed were in compliance with the Financial Regulator's limit of 2% of own funds.
While Allied Irish Banks, Bank of Ireland, EBS Building Society, Irish Life and Permanent plc, Irish Nationwide Building Society and Postbank Ireland Limited were all covered in the report, it did not cover Anglo Irish Bank, which is the subject of a separate, on-going investigation by the Financial Regulator.