Oireachtas Joint and Select Committees

Wednesday, 20 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Marc MacSharryMarc MacSharry (Fianna Fail) | Oireachtas source

Just very finally then, there's ... I think it's the very first page in the evidence book, would it be page 3, it's a note ... a file note by Kieran Kelly following a meeting with the CEO of the society and it mentions a number of things. One of the things it mentions, as a concern, is a credit shock. Obviously, this would have been a lot earlier than the ... it would have been 7 February 2007. I'm just interested to know ... an external market shock such as a credit shock was identified clearly by Mr. McGovern in discussions with Kieran Kelly and that is certainly his note on it, as we can see there from page 3. Can you give us any other information on that? Was it articulated as a result of fears that the society had at the time or indeed Kieran Kelly your own personnel, and what if any actions were determined as a result?

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