Oireachtas Joint and Select Committees
Thursday, 7 March 2013
Public Accounts Committee
2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions
11:40 am
Mr. John Moran:
The banks were recapitalised when the PCAR occurred on the assumption of - the Deputy knows this as well as I do - or based on a stress scenario. We have not fallen below the stress scenario at this stage. If that were not to happen, then the recapitalisation should be sufficient for the banks as they go through the next PCAR.
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