Oireachtas Joint and Select Committees

Thursday, 28 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

This is my final. As you say, the meeting with the prudential director, which I assume may have challenged or may not have challenged some of what was in the report, but this report is based on information at 6 p.m. on 28 September, after the meeting with the prudential director, and still states that the extreme stress case scenario in INBS, and applying that to Nationwide, would deplete the reserves of one bank and bring the other bank close to insolvency and the question I would have is then you made this statement about ... that there was no issue about capital. We were the best capitalised banks in the world; that we could deal-----

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