Oireachtas Joint and Select Committees

Wednesday, 10 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Okay. And very finally, Chair, you refer, Mr. O'Connell, on page 4 of your witness statement that around 2002, 2003, a memo from the economics function in the bank sent to the then Governor essentially recommending that lending to the property sector needed to be reined in, and you refer to a memo coming back, and you said you have a copy of that memo where there's a note added that it's out of the question, it would have to go to the board, but that is out of the question. And I need direction from you, Chair. Can we ask Mr. O'Connell to provide such a memo?

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