Oireachtas Joint and Select Committees

Thursday, 28 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Patrick Neary:

I think what happened was, Chairman, that ... taking it from ... down from the top: the Secretary General of the Department of Finance was a member of the board of the Central Bank, so I think that was the ... that's the first level of relationship, and he would have had an access to all the data, materials that would have been put before the authority and that. So he would be kept very well informed. Then coming down there was relationships at various levels, depending - and it was a kind of an issue-driven relationship. It would depend of what the subject matter was. It could come to me; it could come to the head of banking supervision; it could go to any other head of function across the organisation, I think, really, depending what the issue was. There was no really formalised relationships in place, but we knew one another and we had a cordial constructive relationship with colleagues in the Department of Finance.

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