Oireachtas Joint and Select Committees

Thursday, 28 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Patrick Neary:

Well yes, I mean, well, at that stage ... and it derived from the conversation that he had had with the Governor of the Bank of England, and it seemed like a good idea. And there were liquidity strains emerging and I suppose what the governor was trying to do was, well if we could have a fund that could be utilised to support a bank with a temporary liquidity problem, and you know, presumably they would be able post security and all the rest of it but we didn't get that far. It kind of, it didn't really progress very far-----

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