A substantial investment account for Charles Haughey was opened with NCB on July 7th, 1988, a little over a year after Mr Haughey's return to the office of taoiseach.
Mr Haughey was in debt when returned to power in March 1987 but was able to open an investment account with a lodgement of £175,000 sterling 16 months later, the tribunal report points out.
Mr Haughey's associate, the late Des Traynor, opened the account after he approached Dermot Desmond, then of NCB.
Over the following years Mr Traynor met regularly with Mr Desmond to discuss the investment account.
The account was opened in the name of the NCB nominee company, Aurum Nominees, and was known within the firm as the No 6 account.
The client was Overseas Nominees, the name of the Ansbacher nominee company.
Mr Haughey's account was the first of five or six Overseas Nominees accounts opened by Mr Traynor with NCB at around this time.
Mr Justice Michael Moriarty in his report noted that investment decisions on the accounts went from Mr Traynor to Mr Desmond, even though the accounts were administered by the private clients' division of NCB.
"It is clear that Mr Desmond must have considered these accounts of sufficient importance to warrant his personal involvement," Mr Justice Moriarty said.
The sterling funds used to open the account came from Guinness & Mahon in Dublin, and were transferred to an account in London used by NCB to settle sterling expenses incurred by NCB as members of the London Stock Exchange.
The funds in Guinness & Mahon came from the principal Ansbacher account with that bank.
The tribunal decided the routing instructions for the money must have come from Mr Desmond.
A further £125,000 travelled the same route on August 18th, 1988. The total amount transferred to the account in 1988 was the equivalent of Ir £351,625 or 5.75 times Mr Haughey's then gross salary as taoiseach.
"By early June 1988, the shortage of funds which existed in early 1987 had been converted into a sufficient surplus to enable sterling £175,000 to be invested in securities, and that surplus cannot be accounted for by known payments from Mr Ben Dunne," Mr Justice Moriarty noted.
The second tranche of funds lodged to the NCB account probably came from the £471,000 sterling payment that Mr Dunne made to Mr Haughey in August 1988, Mr Justice Moriarty said.
