Oireachtas Joint and Select Committees

Wednesday, 20 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John McDonnell:

There was discussion in our firm at the time around the impact of what had happened in the subprime market on liquidity. We would, as a regular ... regularly, Chairman, we would discuss, banking partners, both in Ireland and across the firm, would discuss the impacts on markets of various things happening and we would have discussed within our firm, and as I am sure the other firms were discussing, the impacts of the matters I just discussed earlier on liquidity in the marketplace and we would have had those detailed conversations within our firm and we would have had conversations with Bank of Ireland in that regard.

And also, as I mentioned, I believe the meeting in February with the ... with the institute and the Central Bank was around ... was around the impacts of that crisis.

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