Oireachtas Joint and Select Committees

Wednesday, 29 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Eugene Sheehy:

The question was in relation to AIB. The guarantee of the depositors and the bondholders in AIB did not have a direct cost. The cost to the State from AIB was when the assets were transferred. They were less than the value that we thought they were. But the funding of the bank during the tenure of the guarantee was paid for out of the charge that was ordained by the ECB.

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