Oireachtas Joint and Select Committees

Wednesday, 6 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Richie Boucher:

Yes. What I recall is that there was a discussion, it was quite a long discussion. It was noted that whereas the original proposition to lend it for a certain purpose, it then evolved during the meeting. So during the course of the meeting, it was then discussed that one of our issues was going to be finishing out sites or overseeing where ... if we were looking for, to get out of certain positions, and then it was ... it then evolved that the limit would be used where it was to mitigate or reduce risk and I can't remember whether I volunteered or I was requested to ensure that the spirit of that was done, that it was to reduce and mitigate risk. The head of group credit still felt that, notwithstanding that that was a different proposal, as a matter of principle he didn't want limits on property lending increased.

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