Oireachtas Joint and Select Committees

Wednesday, 6 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Cormac McCarthy:

I think ... I've been asked that question already, it's ... on the face of it, the capital that Ulster Bank got from Royal Bank of Scotland was of the order of €14 billion to €15 billion. That was ... that came from Royal Bank of Scotland. The capital that ... and I have no wish to be ... to get into semantics on this, but it's not unimportant. The capital injection that was made into Royal Bank of Scotland in 2008 had nothing ... little or nothing to do with Ulster Bank. So that money was in to deal with Ulster Bank, sorry with Royal Bank of Scotland-----

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