Oireachtas Joint and Select Committees
Thursday, 15 January 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Professor Patrick Honohan:
I do not know. I suppose - but it is only a supposition - that when the regulations were brought out, they had not thought through them and had not realised that they were going to be so far away from what the banks were likely to want to do. They just felt it was on the books but it was a mistake. I imagine that was probably the way they thought.
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