Oireachtas Joint and Select Committees

Thursday, 28 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Patrick Neary:

Yes, the authority introduced a new liquidity regime in 2007. I think ... at ... it may have taken effect from 1 July, around that time, whereas there was monthly reporting done ... that ... it set out ... it set out a kind of a schedule of cashflows whereby you set out the cash in, the cash out, and you had to maintain a net balance in various maturity ... various maturities from out to a week, and then a month, and so forth. That was more or less the kind of thinking. And initially when that started up it was reported every month, and then we changed that to weekly reporting as the difficulties in the financial markets started to emerge and ... I mean, in the closing days before the guarantee, the liquidity reports were coming in, I think, daily, and-----

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