Oireachtas Joint and Select Committees

Wednesday, 6 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Cormac McCarthy:

It was two weeks in particular Deputy, when most of the, for want of a better phrase, damage was done. And it kind of settled, post the UK bailout, but we didn't... recovering the position was very challenging. So the money that went did not repatriate itself to Ulster Bank as a result of the UK bailout, that money took an awful lot longer to come back. So we were still at a deficit compared to where we were, on say 29 September.

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