Oireachtas Joint and Select Committees

Wednesday, 29 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Eugene Sheehy:

Yes, I've explained a few times. It was a liquidity guarantee we were looking for. Deposits is what we were guaranteeing. I referred to the fact that clarity was so important to the markets. It didn't work in the US because of muddled communication. We wanted a guarantee of the deposits of the bank. That's all. Anything else that was added to it wasn't on the agenda, never came up that night until towards the end of it. It was our view that is wasn't adding anything-----

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