Oireachtas Joint and Select Committees
Thursday, 11 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Liam O'Reilly:
The shock absorption of the banks was assessed - and this, I suppose, is another weakness that I didn't mention ... the shock absorption of the banks was assessed by stress testing the institutions. But we see now that there were weaknesses in the stress tests, number one, but much more important I think, there was ... the stresses that were being put on the banks in the stress tests were not stringent enough.
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