Oireachtas Joint and Select Committees

Wednesday, 10 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Tom O'Connell:

I'm not sure because the stress tests ... the bottom-up ones entailed going out to the banks, sending them a scenario and they would come back. Now, we know the banks had no real basis for calculating the losses. You know, they ... they were back of the envelopes and that's probably flattering them a bit on it. They didn't have-----

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