Oireachtas Joint and Select Committees
Wednesday, 27 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Tony Grimes:
I think the answer is that we had red lights from many institutions from time to time. I wasn't aware of that particular instance because sometimes, the collateral they bring to market can vary, as they get more collateral into ECB-conformable styles. So the fact that they wouldn't have enough collateral at a point in time doesn't mean that, a few weeks down the road, they couldn't convert other assets into a format that would become ECB-compatible.
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