Oireachtas Joint and Select Committees

Thursday, 30 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brian Goggin:

No, there wasn't, Chairman, and a reason for that is that 44% of the €144 billion of lending was to residential mortgages with contractual terms going out to 35 years and there was no way you could match fund a book like that. So the fundamental banking model throughout the majority of my working life was to borrow short and lend long - it was a fundamental feature -----

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