Oireachtas Joint and Select Committees

Wednesday, 27 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Con Horan:

No. Certainly in the early stages it was international markets had frozen. We were aware that this was happening in other jurisdictions as well and it happened right across the board where interbank lending reverted to national borders and that continued for a considerable length of time afterwards. So it was relatively consistent with what was going on, that lending began. And people were probably more familiar anyway with some of the local operations.

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