Oireachtas Joint and Select Committees
Thursday, 14 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Richard Burrows:
My answer to that is that it was the availability of wholesale funding which largely replaced the reliance on deposits which had been there before. And this was not a situation which was peculiar to Bank of Ireland, this was something which was happening, not just in Ireland but right across the euro-land as banks were availing of wholesale funding in order to engage in their business of lending.
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