Oireachtas Joint and Select Committees

Thursday, 28 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Patrick Neary:

Well, you see, the Governor and the Central Bank, in relation to those ... those arrangements, may well have put that liquidity in place because that would have been all about validating collateral, putting various collateral in place, making sure they had the assets and the haircuts and that.

That was a ... that's a technical matter that has to be done under ... as I understood it, EU ... sorry, excuse me, ECB arrangements. That wouldn't necessarily involve us, that was a matter, I think, for the Governor. And, you know, that's really ... I would ... explains that.

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