Oireachtas Joint and Select Committees
Wednesday, 27 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Joe Higgins (Dublin West, Socialist Party) | Oireachtas source
And then to quote that paragraph 3:
Once an institution is insolvent the Central Bank cannot provide [emergency liquidity assistance] to the institution. In order for the institution to be assisted [Central Bank] would require ... some form of guarantee from the Government eg a letter of comfort. This would allow the [Central Bank] to treat the institution as illiquid, but solvent.
So, can I ask you to maybe comment on that? What's this all about?
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