Oireachtas Joint and Select Committees

Thursday, 30 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brian Goggin:

It is an interesting question. I don't believe so, I think the collateral rules for the ECB were very much of a contingency nature, one...as I said myself. I took some comfort from the volume that we had, but you couldn't run a bank indefinitely on posting collateral with a monetary authority. That would be a temporary measure, so it was very much in the contingency space.

So to answer your question Deputy, no I don't think that would have-----

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