Oireachtas Joint and Select Committees

Wednesday, 10 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Tom O'Connell:

Well, no, it was a question of secrecy you know. You don't leave these things lying around the place. No more than, for example, my colleague on the seventh floor dealing with liquidity to the banks. You know every day they'd have a table about the provision of liquidity to the banks, the collateral the banks had, how much more they could borrow over the next few months and so on. You didn't leave that lying around the place. I was shown it the odd time but it was never actually physically given to me. I might have perused it over somebody's shoulder or been asked to look at something like that. But so, being ... being ... not seeing the large exposures, it was, sort of, par of the course. You know, I didn't need to know but, of course, we knew anyway that total bank lending was going crazy.

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