Oireachtas Joint and Select Committees

Thursday, 21 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John Hurley:

I can’t tell you what their view was. We would only give emergency liquidity assistance for what was needed. We would not be in the business of giving prospective emergency liquidity assistance for what might be needed, but if emergency liquidity assistance did turn out to be needed, and with the Minister’s consent, we would’ve been prepared to do that.

But the issue that occurred on the night was .... yes, we are prepared to give emergency liquidity assistance to make sure that Anglo will open the following morning. But the bigger question is, what is the impact of that on the system in an environment where confidence in banks was shattered?

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