Oireachtas Joint and Select Committees

Thursday, 21 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John Hurley:

Yes. All through 2008, once the liquidity crisis happened in the United States - we touched on this earlier ... and here the Central Bank would have been at the edge of its legal powers and responsibilities in the context of the division of responsibilities that had taken place. We ... because of our role in relation to ECB funding and as lender of last resort, we took much a longer role in relation to this. And we attended meetings with the Financial Regulator on liquidity issues, not all of them but very many of them, throughout 2008, and I would have attended those meetings.

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