Oireachtas Joint and Select Committees

Thursday, 28 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Patrick Neary:

No, I wouldn't say detached. But I mean, I suppose the ranking of the players would have changed. Certainly, the Department of Finance was the main driving force at that stage. They were in charge, if you will, of the solution of the problem. The Central Bank, being the people with the cheque book, were certainly up the rankings, and we would have ranked next, I think, in the pecking order in so far as, I suppose, our job was provide the information, the facts, the solvency, the liquidity information, and we were delivering that. But, you know, it got to a stage where the Department of Finance was managing the situation, were driving the situation, and the Central Bank were trying to put the liquidity arrangements in place to see ... to determine liquidity solutions and that.

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