Oireachtas Joint and Select Committees
Thursday, 21 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. John Hurley:
There is no way that a central bank can give emergency liquidity assistance to an insolvent bank; and we can only give emergency liquidity on the basis of a certificate from the Financial Regulator that the bank is solvent. If Anglo bank, Anglo Irish Bank, was insolvent on the night, there would have been no emergency liquidity assistance.
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