Oireachtas Joint and Select Committees
Thursday, 23 April 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Dermot Gleeson:
If I can just say again, Chairman, because I fear I haven't made myself clear. There was a small number of words on a slip of paper which, in my recollection, described the range that ... a guarantee that would look right from foreign central banks. That's just this bit. The bank guarantee is a 12-page legal document. In the hour before we ... there was no question of drafting a guarantee, and my note is misleading to that extent. It was this critical formula, and I know bonds were asked for. And let me say just in relation to bonds because I know that's controversial, AIB had no bonds that matured in the two-year period ... it wasn't for ourselves. We had no bonds - relevant bonds - that matured in the two-year time. But that's all I can remember. And when I say farther down the same page that you were quoting, about six lines from the end, we furnished our draft guarantee - again, it was this formula - to the Government at the very early session, I believe that slip of paper was handed over.
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