Oireachtas Joint and Select Committees

Wednesday, 27 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Ms Mary Burke:

From late 2007, I think. We had introduced new liquidity requirements which took effect on 1 July, the first reporting date for that would have been at the end of September, it was quarterly reporting as we originally implemented it, but the concern was such regarding market reaction of circumstances of the time that from, I think it was 14 September, we required them to report to us weekly. So there were concerns at that point that we needed to be aware of what was happening in terms of bank liquidity, but there was no immediate urgent concern, it was just an escalation of monitoring.

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