Oireachtas Joint and Select Committees

Wednesday, 6 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Cormac McCarthy:

Well, as I said earlier, we had to increase and get permission to increase the intergroup line that we had from RBS by a number of billions. So we had to get support from Royal Bank of Scotland and collaterally from the Financial Services Authority who would have had to approve that intergroup line. And that was forthcoming, so RBS were, you know as good as their word and stood up to it.

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