Oireachtas Joint and Select Committees
Thursday, 14 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Richard Burrows:
Well, if I take you through the subsequent events, we met with Anglo, I had a pre-scheduled meeting with the Governor of the Central Bank to talk about other matters which had to do primarily with wholesale funding and collateral for funding and I took that opportunity, that afternoon, of explaining to Mr. Hurley the visit that I'd had from Anglo and explaining my concern at the very difficult situation which could result from this default the following morning and I asked if there was any plan in place in the Central Bank to deal with this situation. I was somewhat surprised to find out that there was not and it was Mr. Hurley's guidance to me that if I wanted to take matters further, that I should make an approach to Government.
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